India-EU FTA: EU Proposes 2.5L Car Quota at 8% Duty
By Business Desk
The EU has proposed allowing 2.5 lakh Indian cars annually at an 8% customs duty under ongoing India-EU Free Trade Agreement negotiations.
The European Union proposed allowing the annual import of 2.5 lakh cars from India at a reduced customs duty of 8 percent as part of ongoing Free Trade Agreement negotiations. This offer marks a notable development in the trade talks between the two regions.
Key Trade Proposal Details
The European Union presented specific figures regarding vehicle imports and tariff reductions to boost automotive trade. Both negotiating sides are currently deliberating on these terms.
Key figures and components of the trade proposal include:
Annual car import volume: 2.5 lakh Indian-manufactured vehicles.
Proposed customs duty: 8 percent concessional rate.
Additional Areas of Deliberation
Beyond vehicle quotas and tariffs, negotiators are working through several other regulatory and environmental components. These ongoing discussions shape the comprehensive trade agreement structure.
Negotiation aspects under review include:
Market access conditions across participating regions.
Sustainability standards required for cross-border trade.
Regulatory alignment between India and the European Union.
This ongoing negotiation highlights the continuous progress being made in the long-standing trade discussions between India and the European Union.