India-EU FTA: Luxury Cars, Foreign Liquor, Electronics to Get Cheaper

• India and the European Union have agreed to sign a Free Trade Agreement (FTA) after 18 years of negotiations, dubbed the 'Mother of All Deals' by PM Modi.
• Import duties on European luxury cars like Mercedes, BMW, Audi, and Porsche will be significantly reduced from over 100% to 40% for cars above 15,000 Euros, making them cheaper.
• Prices of European wine and whiskey will decrease due to reduced duties, making premium brands from France, Italy, and Spain more accessible.
• Electronic equipment, medical devices, aircraft parts, chemicals, and high-tech machinery from Europe will become cheaper, lowering manufacturing costs and consumer prices in India.
• The FTA will boost Indian exports to the EU, with potential elimination of 10% duty on garments, and increased exports of diamonds, jewelry, leather products, and generic medicines, creating millions of jobs.

Why It Matters: The India-EU FTA will make European luxury goods and technology cheaper in India while boosting Indian exports and job creation.