Friday, September 18
Mumbai: India will slash duties on high-end cars from the United Kingdom under the free trade deal signed on Thursday, while protecting the mass-market segment where Indian manufacturers are gaining global ground."Vehicles priced below £40,000 (about ₹46 lakh including cost, insurance and freight), where Indian automakers are highly active, have been explicitly excluded from any duty concession," an explanatory note released by the commerce ministry said."The concessions are targeted largely at large engine capacity ICE vehicles- above 3000 cc petrol or 2500 cc diesel and high-end EVs priced above £80,000 (CIF)...providing a protective shield to the mass-market EV segment," it said.The deal is likely to benefit luxury car brands such as Aston Martin, Rolls-Royce, McLaren, Lotus, Jaguar
