India-EU FTA: Tariff Cuts on 100,000 ICE Cars, EVs Below €20,000 Excluded
Business
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Moneycontrol•28-01-2026, 18:46
India-EU FTA: Tariff Cuts on 100,000 ICE Cars, EVs Below €20,000 Excluded
- •India will grant tariff concessions on 100,000 EU internal combustion engine (ICE) cars in the first year of the FTA.
- •The quota for ICE cars will increase to 160,000 units by the tenth year, with duties falling to 10% in year 5.
- •Electric vehicle (EV) tariff concessions begin in the fifth year, with duties ranging from 30-35% based on price.
- •The initial EV quota is 20,000 units, rising to 90,000 by the 14th year, with duties eventually dropping to 10%.
- •Cars priced below €15,000 are excluded from all tariff concessions under the agreement.
Why It Matters: India-EU FTA offers significant tariff cuts on EU cars, boosting market access but excluding lower-priced models.
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