India – EU Trade Agreement

India is likely to cut import tariffs on cars to 40 percent under a major trade deal with the European Union. The talks are taking place today, Tuesday. This move is expected to give big support to Indian automobile market and trade relations with Europe.

With the tariff reduction, prices of European cars costing above €15,000 may come down in India. This will benefit customers looking for premium vehicles. European brands may see better demand in Indian market after the deal.

Officials say the agreement will strengthen India – EU economic ties. Trade and investments between both sides could increase in coming years. The auto sector may see more competition and market expansion, experts added.