Mumbai, The UK has recognised India's Carbon Credit Trading Scheme (CCTS) and agreed that the carbon price paid under this programme will also be recognised under the British CBAM regime, according to Commerce Secretary Rajesh Agarwal on Wednesday.
"That's a good development because this is something that India has been talking about for months and years now wherein we have been saying that if a company has paid for a carbon footprint in one economy from where it is originating, then it should not be asked to pay the same tax in the destination economy," he told reporters here.
