The recently signed India–UK Free Trade Agreement (FTA), concluded during Prime Minister Narendra Modi’s official visit to the United Kingdom, is set to make high-end cars more accessible to Indians.
Under the agreement, officially known as Comprehensive Economic and Trade Agreement, Tariff Rate Quota (TRQ) mechanism has been introduced under which there is progressive customs duty reductions on a quota-based system over a span of 15 years.
The move can give a shot in the arm to imports of high-end British-made luxury cars such as Aston Martin, Jaguar Land Rover, Rolls-Royce, Bentley, and McLaren.
Agreeing with the possibility, Saket Mehra, Partner at Grant Thornton Bharat, said the phased reduction of import duties on UK-built passenger…
Source link
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We 5guruayurveda.com want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
Website Upgradation is going on. For any glitch kindly connect at 5guruayurveda.com
