India will cut tariffs on cars imported from the European Union from 110 % to 40 %, a move that could open the vast Indian market to European manufacturers. According to Reuters‑quoted sources, the Modi government has agreed to slash duties on a limited number of EU cars priced over €15 000, with some models eligible for a tariff as low as 10 %. The reduction is part of broader talks that may lead to a free‑trade agreement signed as early as Tuesday. French automaker Renault, Stellantis, and German brands Volkswagen, Mercedes‑Benz and BMW stand to benefit from the new tariff regime.
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