India-EU FTA: Duty Relief For 2.5 Lakh Made-In-India Cars Annually - What It Means

India-EU FTA: Duty Relief For 2.5 Lakh Made-In-India Cars Annually - What It Means

India-EU FTA: These import duty concessions cover Indian-origin ICE passenger cars and hybrid EVs priced up to Euro 50,000 on a CIF (cost, insurance, freight) basis.

More BMWs, Mercedes? India-EU deal could spur sixfold jump in car imports

The total country-specific quota falls under two parts, whereby the FTA component comes in at 0.69 million tonnes and the most favoured nation component, available to all partner countries, stands at 0.95 million tonnes.

EU to allow 2.5 lakh Indian cars annually at 8% duty under FTA

The European Union will permit 2.5 lakh Indian passenger vehicles annually at a reduced 8 percent duty. This import duty concession will gradually decrease to zero percent over five years. Quotas for electric and hybrid vehicles also receive phased duty reductions and increases. Certain Indian agricultural and processed food items will also benefit from duty…

India-EU FTA: EU To Allow 2.5 Lakh Indian Cars At 8% Duty, Quota To Rise To 4 Lakh

The European Union will allow 2.5 lakh Indian-made passenger vehicles annually at an 8% concessional duty under the proposed India-EU free trade agreement. The quota will gradually rise to 4 lakh vehicles, while duties will eventually fall to zero. Separate concessions will cover electric and hybrid vehicles