India will allow imports of up to 3.78 lakh UK cars during the first 15 years of the trade arrangement, under a comprehensive economic and trade agreement. Multiple reports say the agreement covers automotive products and includes tariff reductions alongside import quotas for both India and the UK. For automobiles and related items, import duties are expected to decline significantly over time—from roughly 110% to around 10%. The structure also includes quotas that limit the volume of cars that can be imported, aligning access to the Indian market with agreed volumes. The details point to a phased reduction of duties over the 15-year period while maintaining controlled import levels. The reports do not indicate changes to rules beyond the automotive sector and the specified duty and quota framework. Overall, the trade pact terms as described focus on lowering costs for UK-sourced automotive imports while setting quantitative limits for how many vehicles can enter India in the initial years of the agreement.
India to allow up to 3.78 lakh UK car imports under trade pact with reduced duties
India will allow imports of up to 3.78 lakh UK cars during the first 15 years of the trade arrangement, under a comprehensive economic and trade agreement. Multiple reports say the agreement covers au...
- India will allow up to 3.78 lakh UK car imports during the first 15 years under a trade pact.
- The agreement described is a comprehensive economic and trade agreement (CETA).
- Import duties on automotive products are expected to fall from about 110% to around 10%.
- The trade terms include quotas on car imports for both India and the UK.
Under the comprehensive economic and trade agreement (CETA), import duties on automotive products will fall from about 110% to 10%, with quotas on both sides.
2 months agoUnder the comprehensive economic and trade agreement (CETA), import duties on automotive products will fall from about 110% to 10%, with quotas on both sides.
2 months ago
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