India–EU FTA: New Delhi likely to cut car import tariffs from 110% to 40% – report
India is set to significantly slash import duties on European cars, potentially to 40% from over 100%, as a free trade agreement with the EU nears conclusion. This move opens India’s auto market, benefiting European brands like BMW and Volkswagen, while protecting domestic electric vehicle production initially. The deal aims to boost trade and diversify supply chains.🕒 1 min read
India is set to significantly slash import duties on European cars, potentially to 40% from over 100%, as a free trade agreement with the EU nears conclusion. This move opens India’s auto market, benefiting European brands like BMW and Volkswagen, while protecting domestic electric vehicle production initially. The deal aims to boost trade and diversify supply chains.
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