Saturday, August 08
India-EU FTA: The newly concluded EU-India free trade agreement promises cheaper European consumer goods in India such as breads, chocolates, confectioneries and wine in a move likely to expand choices and ease prices for Indian consumers accustomed to high import duties on European products.Key tariff cuts under the EU-India deal include some such benefits for the Indian consumer:Wine: Import duties will be slashed from 150% to 75% at entry into force, with tariffs eventually falling to as low as 20% for premium wines and 30% for mid-range wines, making European wines significantly cheaper in India.Spirits: Tariffs of up to 150% will be reduced to 40%, easing the cost of imported spirits.Beer: Import duties will be cut from 110% to 50%, lowering prices for European beer brands.Olive oil,
