European Union & India — Export Inspection Council of India

European Union: The European Union implemented the Carbon Border Adjustment Mechanism (CBAM) which is causing compliance challenges for Indian MSMEs, particularly in the steel and aluminium sectors. This mechanism is seen as a way to upgrade its own industries and technology.

India — Export Inspection Council of India: The India — Export Inspection Council of India is suggested to establish a mutual recognition regime with European verification agencies to prevent expensive foreign auditing costs for Indian exporters.