By Admin 
India-united kingdom free trade agreement: If you are fond of luxury car, then this news is going to be good for you. We are saying this because luxury cars like Jaguar Land Rover, Rolls-Royce and Eston Martin will become cheaper. India and United Kingdom have entered into a historic free trade agreement (FTA), business agreement.
This agreement will not only strengthen trade relations between the two countries, but is also expected to promote the automotive sector of our country.
Impact of luxury and premium vehicles will be affected
The biggest impact of this agreement will be seen on the import of luxury and premium vehicles, due to which there is a possibility of a huge cut in their price. Last year, India imported cars worth about Rs 650 crore from Britain, while bike imports have been around Rs 30 crore.
Tariff will be reduced from 100 percent to 10 percent
Due to this agreement, the UK will reduce tariffs on the goods exported from India, while India will also reduce the current tariffs on luxury and high-end cars to be imported from the United Kingdom from 100 percent to 10 percent. There will be a huge decrease in import duty on cars made in Britain. Therefore, the cars of companies like Jaguar Land Rover, Eston Martin, Bentley and Rolls-Royce will become cheaper.
Possibility of getting the benefit of deduction
All these car manufacturers manufacture vehicles in Britain and import their cars in India. Due to high import duty, the price of these cars increases significantly by reaching the common people. In such a situation, there is a possibility of getting the benefit of price cuts in the portfolio of these car companies due to tariff cuts.
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