India and the European Commission met in New Delhi to discuss continued cooperation on carbon markets and carbon pricing. The talks covered India's Carbon Credit Trading Scheme, which sets emission intensity reduction targets for 490 industrial units, and the EU's Carbon Border Adjustment Mechanism (CBAM). India also highlighted that non-fossil energy sources now make up over half of its installed power capacity, at 308 GW out of 558 GW total. Both sides agreed to hold more technical discussions to align their approaches. The outcome is a commitment to keep working together rather than a formal agreement. The key detail to watch is how India's intensity-based targets interact with CBAM's import reporting requirements.
