India set to slash import duties on European cars in landmark trade agreement
India will reduce car import duties for the EU from 110 percent to 40 percent. This major policy shift aims to open the world third largest car market.
Insights:
The government of India 
INand the European Union 
EUare expected to announce the conclusion of free trade pact negotiations on Tuesday. As part of this historic agreement, the administration of Prime Minister Narendra Modi narendra modihas agreed to slash tariffs on cars imported from the European Union. Currently, Indialevies tariffs of 70% and 110% on imported vehicles, a policy that has long been criticized by global figures like Elon Musk elon muskof Tesla Inc .
INand the European Union EUare expected to announce the conclusion of free trade pact negotiations on Tuesday. As part of this historic agreement, the administration of Prime Minister Narendra Modi narendra modihas agreed to slash tariffs on cars imported from the European Union. Currently, Indialevies tariffs of 70% and 110% on imported vehicles, a policy that has long been criticized by global figures like Elon Musk elon muskof Tesla Inc .
