India-EU FTA Allows European Carmakers To Export 1.6 Lakh Cars Annually At Lower Duties
The India-European Union free trade agreement (FTA) will provide European automobile manufacturers with a phased tariff advantage for vehicle exports to India. Under the proposed pact, EU-origin passenger vehicles will be eligible for concessional import duties, with the annual quota increasing gradually over time, PTI reported. The agreement allows European carmakers to initially ship up to 1…
The India-EU free trade agreement presents European car manufacturers with a gradually increasing tariff advantage for exporting vehicles to India. Under the proposed pact, EU-made passenger cars can initially ship up to 1 lakh vehicles annually, with the limit growing to 1.6 lakh from the 10th year of implementation. This agreement allows for duties to be lowered across vehicle segments, benefiting both manufacturers and consumers.
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