Foreign media: India plans to reduce the import tariff on cars from the EU from a maximum of 110% to 40%, and further reduce it to 10% in the future.
This tariff adjustment mainly targets cars with an import price exceeding 15,000 euros. Electric vehicle models will not enjoy tariff reductions for five years. This move will facilitate European automakers such as Volkswagen, Mercedes-Benz, and BMW entering the Indian market, while Indian local automakers such as Mahindra and Tata will gain some protection.
India is the third-largest automobile sales market in the world. This tariff adjustment is an important step in the opening of the Indian automobile market and is expected to further promote bilateral trade growth.
Original: toutiao.com/article/1855302358918151/
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