India to Slash Car Tariffs to 40% in EU Trade Pact
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India will reduce tariffs on EU car imports to 40% from as high as 110%, with plans to lower them to 10% over time. This decision, part of a free trade agreement with the EU, aims to facilitate entry for automakers like Volkswagen and BMW. The agreement is expected to enhance bilateral trade and increase Indian exports of textiles and jewellery, which are currently facing high U.S. tariffs.
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