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India plans to reduce import tariffs on cars from the European Union to 40 percent from current levels as high as 110 percent, with further reductions to 10 percent over time. The tariff cuts will apply to a limited number of vehicles priced above 15,000 euros.

India plans to reduce import tariffs on cars from the European Union to 40 percent from current levels as high as 110 percent, with further reductions to 10 percent over time. The tariff cuts will apply to a limited number of vehicles priced above 15,000 euros.

India and the EU are expected to announce the conclusion of free trade agreement negotiations on Tuesday, with the pact being called the mother of all deals. The agreement could expand bilateral trade and support Indian exports of textiles and jewellery.

India and the EU are expected to announce the conclusion of free trade agreement negotiations on Tuesday, with the pact being called the mother of all deals. The agreement could expand bilateral trade and support Indian exports of textiles and jewellery.

Battery electric vehicles will be excluded from import duty reductions for the first five years to protect investments by domestic manufacturers like Mahindra & Mahindra and Tata Motors. After five years, EVs will follow similar duty cuts as combustion engine vehicles.

Battery electric vehicles will be excluded from import duty reductions for the first five years to protect investments by domestic manufacturers like Mahindra & Mahindra and Tata Motors. After five years, EVs will follow similar duty cuts as combustion engine vehicles.

India currently levies tariffs of 70 percent and 110 percent on imported cars, making it one of the most protected major auto markets globally. New Delhi has proposed slashing import duties to 40 percent immediately for about 200,000 combustion engine cars annually.

India currently levies tariffs of 70 percent and 110 percent on imported cars, making it one of the most protected major auto markets globally. New Delhi has proposed slashing import duties to 40 percent immediately for about 200,000 combustion engine cars annually.

European carmakers currently hold less than 4 percent share of India's 4.4 million units per year car market, which is dominated by Japan's Suzuki Motor and homegrown brands Mahindra and Tata. The Indian market is expected to grow to 6 million units annually by 2030.

European carmakers currently hold less than 4 percent share of India's 4.4 million units per year car market, which is dominated by Japan's Suzuki Motor and homegrown brands Mahindra and Tata. The Indian market is expected to grow to 6 million units annually by 2030.

Bilateral trade in goods between India and the EU reached 120 billion euros in 2024, with the EU being one of India's largest trading partners. The trade deal aims to create a market of nearly 2 billion people accounting for approximately a quarter of global GDP.

News India Times

Bilateral trade in goods between India and the EU reached 120 billion euros in 2024, with the EU being one of India's largest trading partners. The trade deal aims to create a market of nearly 2 billion people accounting for approximately a quarter of global GDP.

India to Slash EU Car Import Tariffs in Major Trade Deal

India to Slash EU Car Import Tariffs in Major Trade Deal

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India to Slash EU Car Import Tariffs in Major Trade Deal

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