India-EU Trade Deal: Luxury Cars, Cancer Meds, Wine to Get Cheaper

• Prime Minister Narendra Modi announced the India-EU free trade agreement as a blueprint for shared prosperity and global stability.
• Luxury European cars like BMW, Lamborghini, Porsche, and Audi will become significantly cheaper in India due to reduced import duties (from 40% to 10% for cars over 15,000 euros).
• European wines will see import duties drop from 150% to 20% for expensive varieties, while Indian wines gain market access in the EU.
• Cancer medicines, critical illness drugs, and medical equipment imported from the EU will become more affordable in India.
• Tariffs on aircraft spare parts, mobile phones, high-tech electronics, steel, chemical products, and Indian garments, leather, and jewellery will also be eliminated or reduced.

Why It Matters: The India-EU FTA will make luxury goods, critical medicines, and electronics cheaper in India while boosting Indian exports.