India, alongside 62 nations, has voted in favor of the world's first global carbon tax targeting the shipping industry. This landmark decision, adopted by the United Nations' International Maritime Organization (IMO), aims to curb greenhouse gas emissions from maritime transport, a sector previously excluded from global climate agreements.

• Global Agreement: India and 62 other countries have agreed to implement a global carbon tax on commercial shipping, a sector responsible for 3% of global emissions. ?
• Implementation Timeline: The carbon tax is set to take effect in 2028, requiring ships over 5,000 gross tonnage to either adopt cleaner fuels or pay a fee ranging from $100 to $380 per tonne of CO2 emitted. 
• Revenue Utilization: The tax is expected to generate up to $40 billion by 2030, which will be reinvested exclusively into decarbonizing the maritime sector. 
• India's Maritime Ambitions: India's support aligns with its goal to become one of the top five shipbuilding nations by 2047, with a fleet that grew to 1,530 ships by 2023. ?