Indie significantly lower tariffs on European cars

The European Union has signed a trade agreement with India, which will reduce import duties on cars produced in the EU to 10% from levels that previously reached up to 110%, reports Reuters. This is the biggest opening of the Indian automotive market to European brands. The deal is a lifeline for European manufacturers facing tariff pressure in the US and fierce price competition in China. Although the scale of this change remains limited and the Indian market is currently dominated by local producers and Asian rivals, the agreement could shift market shares in favor of European firms, particularly benefiting premium carmakers