India, EU slash tariffs on autos, spirits, textiles in landmark trade deal

Contributing sentiments towards policy:

56% : The accord would open up India's vast and highly guarded market, with New Delhi slashing tariffs on cars to 10% over five years from as high as 110%, according to an EU statement, benefiting European automakers such as Volkswagen, Renault, Mercedes-Benz and BMW.
56% : " Trade between India and the EU stood at $136.5 billion in the fiscal year through March 2025.
56% : The agreement comes days after the EU signed a pivotal pact with the South American bloc Mercosur, following deals last year with Indonesia, Mexico and Switzerland.
56% : Talks between India and the EU were relaunched in 2022 after a nine-year lull, and gathered momentum after Trump put tariffs on several trading partners, including a 50% tariff on goods from India.
54% : He said the deal will also give an immediate price advantage for EU products in India because of relief from its high tariffs, for instance up to 110% on cars. ($1 = 0.8422 euros) Reporting by Shivangi Acharya and Manoj Kumar, Editing by Raju Gopalakrishnan Our Standards: The Thomson Reuters Trust Principles., opens new tab * Suggested Topics: * Autos & Transportation * Regulatory & Policy * ADAS, AV & Safety Manoj Kumar Thomson Reuters Manoj Kumar is a Senior Economics Correspondent based in New Delhi.
53% : "Yesterday, a big agreement was signed between the European Union and India," Indian Prime Minister Narendra Modi said earlier.
53% : The formal signing of the India-EU deal would take place after legal vetting expected to last five to six months, an Indian government official aware of the matter has said.
51% : India and the European Union have finalised a long-pending landmark trade deal, both sides said on Tuesday, as they seek to hedge against fickle ties with the U.S. The deal is expected to double EU exports to India by 2032 by eliminating or reducing tariffs in 96.6% of traded goods by value, and will lead to savings of 4 billion euros ($4.75 billion) in duties for European companies, the EU said.
50% : The EU will cut tariffs on 99.5% goods traded over seven years, with tariffs to be cut to zero on Indian marine goods, leather and textile products, chemicals, rubber, base metals and gems and jewellery, India's trade ministry said in a statement.
49% : Tariffs on spirits will be lowered to 40%, the EU said.
48% : For India, the tariff cuts with the EU will lead to more exports in labour intensive sectors that will help partly offset the impact of U.S. tariffs, said Ajay Srivastava, a former Indian trade official.
46% : The deal will also cut tariffs on a slew of EU goods coming to India including machinery, electrical equipment, chemicals and iron and steel, the EU said.
46% : He has written on a broad range of topics including India's annual budgets, taxation, inflation, youth unemployment, protests and the impact of government policies on people.

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