Price Cut Alert: Cars, Wine, Medicines to Get Cheaper After India-EU FTA
Business
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News18•28-01-2026, 14:35
Price Cut Alert: Cars, Wine, Medicines to Get Cheaper After India-EU FTA
- •The India-European Union Free Trade Agreement (FTA) is set to significantly reduce prices of luxury cars, wine, cancer medicines, smartphones, and steel.
- •European luxury cars like BMW, Mercedes, and Lamborghini will see duties drop from 40% to 10% on cars above 15,000 Euros, making them lakhs cheaper.
- •Duties on EU wines will decrease from 150% to 20% for higher-priced varieties, while Indian wines gain access to the EU market.
- •Imported cancer medicines and medical devices will become more affordable, and Indian-made medicines will have easier access to 27 European markets.
- •Tariffs on aircraft spare parts, mobile phones, high-tech electronics, steel, chemical products, garments, leather, and jewelry will be eliminated or reduced, benefiting consumers and industries.
Why It Matters: The India-EU FTA will make various goods cheaper and boost Indian businesses in global markets.
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