India to Allow Reduced-Duty Import of 3.78 Lakh UK Cars Under Trade Pact
India and the UK will implement a comprehensive trade and economic partnership agreement (CETA) from July 15, allowing India to import 3.78 lakh conventional-engine passenger cars from the UK at reduced customs duties over 15 years. Tariffs on automotive imports will decrease from about 110% to 10%, with specific quotas for different engine sizes. From the sixth year, India will also access the UK's electric and hybrid hydrogen passenger cars segment duty-free within set price and quota limits. Indian manufacturers like Tata Motors, Mahindra, and Maruti Suzuki are expected to benefit from the agreement.