India-EU FTA: Tariff Cuts on 100,000 ICE Cars, EVs Below €20,000 Excluded

• India will grant tariff concessions on 100,000 EU internal combustion engine (ICE) cars in the first year of the FTA.
• The quota for ICE cars will increase to 160,000 units by the tenth year, with duties falling to 10% in year 5.
• Electric vehicle (EV) tariff concessions begin in the fifth year, with duties ranging from 30-35% based on price.
• The initial EV quota is 20,000 units, rising to 90,000 by the 14th year, with duties eventually dropping to 10%.
• Cars priced below €15,000 are excluded from all tariff concessions under the agreement.

Why It Matters: India-EU FTA offers significant tariff cuts on EU cars, boosting market access but excluding lower-priced models.