We’ve already discussed how the India-UK Free Trade Agreement (FTA) will potentially benefit buyers of imported (CBU) cars in India. On the other hand, made-in-India models will also benefit from this trade agreement.
- No duty on India-made EVs, hybrids imported in the UK
- Benefits will come into effect from the sixth year onwards
- Maruti Suzuki, Toyota, Tata Motors and Mahindra could gain
India-UK FTA: Customs duty on made-in-India EVs, hybrids explained
As per this agreement, made-in-India electric vehicles (EVs), hybrids and hydrogen-powered vehicles will be eligible for import into the United Kingdom free of customs duty from January 1 of the sixth year. Currently, the customs duty is 10 percent.
From the sixth year, 17,600 vehicles will be…
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