Mumbai, Feb 6 (IANS) Indian auto component manufacturers are likely to enjoy more access to European markets with improved price competitiveness under the proposed India-EU Free Trade Agreement (FTA), a report said on Friday.The report from ICRA said that “tariff rationalisation and preferential access are expected to enhance pricing competitiveness and sourcing opportunities with European original equipment manufacturers (OEMs)”.The EU is a major automotive production hub and better trade terms…
Latest Import Duties News & Updates
New Delhi, Jan 26 (IANS) India is preparing to sharply cut import duties on cars from the European Union as part of a long-pending free trade agreement, which could be announced as early as Tuesday, according to reports.Under the proposed deal, India plans to bring down peak import tariffs on EU-made cars to 40 per cent from the current levels of up to 110 per cent.This would be the biggest opening so far of India’s tightly protected automobile market.Initially, the lower duty will apply to a …