The Free Trade Agreement (FTA) between India and the European Union now seems to be reaching the final stage. To take this deal forward, India has given a big tariff offer. According to reports, it has been proposed to reduce the import duty on cars coming from Europe from 110% to 40%. This deduction will be applicable on premium cars whose import price is more than 15,000 euros. It is believed that this step can give a breakthrough to the India-EU FTA negotiations that have been stuck for years. At present the goods and services trade between India and EU is more than $190 billion. European Union is also India’s largest goods trading partner, so this FTA can prove to be a game changer for both the economies.
India–EU FTA Final Stage | Car Import Duty Cut to 40%? Auto Stocks Impact Explained | Money Live | India–EU FTA Final Stage | Car Import Duty Cut to 40%? Auto Stocks Impact Explained
