Buyers of luxury cars and SUVs in India could soon enjoy significant price drops, thanks to the proposed India-UK Free Trade Agreement (FTA). According to a recent statement by the UK government, import duties on high-end vehicles manufactured in the UK are expected to be slashed dramatically — from over 100% to just 10% — under a specified quota.
However, specific details regarding the categories or price range of vehicles that will qualify for the reduced tariff are yet to be clarified. The Indian government is also expected to announce the exact number of vehicles that will be permitted for import under this arrangement.
The move is anticipated to give a major boost to premium automotive brands while offering Indian consumers more accessible luxury options.
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