India-UK FTA slashes import duties on British luxury cars from 110% to 30% in year one and 10% by year five. Prices of top-end brands like Jaguar, Bentley, Rolls-Royce, and Aston Martin to drop sharply, while domestic EV and smaller car markets remain protected.
The India-UK Free Trade Agreement (FTA) is set to sharply reduce the price tags of ultra-luxury imported cars, but with a calibrated structure that protects domestic automakers, smaller vehicles, and emerging technologies like electric vehicles. Under the deal, import duties on high-end internal combustion engine (ICE) cars will be cut from 110% to 30% in the first year, bringing down the price of a Rs 5 crore fully built luxury car to around Rs 3 crore. By the fifth year, as tariffs fall…
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