India plans to reduce customs duties on imported cars from the EU from 110% to 40%, facilitating access to the Indian market.
Cristina Petrache
International
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India intends to reduce customs duties on imported cars from the European Union from 110% to 40%, according to sources from Reuters. This represents India's largest opening to the European market, in the context of a free trade agreement that could be signed soon. Prime Minister Narendra Modi's government will immediately lower the tax for a limited number of cars from the 27 EU countries, with import prices exceeding 15,000 euros. This reduction could reach up to 10%, facilitating access to the Indian market for car manufacturers such as Renault, Stellantis, Volkswagen, Mercedes-Benz, and BMW. This measure is part of broader trade negotiations between India and the European Union.
Sources
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