New Delhi: India finally rested its highly controlled duty rates on imported cars with the UK Trade Deal, which paves the way for customs accusations to be reduced by 10%from 100%+, which makes the ultra-lingo brands like Jaguar and Land Rover, Rolls-Royce, Bentley and Eston Martin.However, the government has delayed import duty concessions while talking about electrix and other green cars, this measure is being introduced to protect domestic players that want to produce high-value clean cars. “Electrics, hybrids and hydrogen-operated vehicles have been given any concession in the first five years,” said an official.In petrol and diesel categories, low tariffs can be enjoyed for a limited number of vehicles as the government has imposed quota and boundaries for the safety of domestic manufacturers and also curb large -scale shipment.For petrol cars with large engine above 2500 cc and big engine above diesel cars-traditionally luxury import-India has committed to reduce the current 100%+ customs in 15 years, growing up to 19,000 within the quota starting from 10,000 units and in the year five, according to a review of the global business research initiative (GTRI).For medium-sized cars (up to 1500–2500 cc diesel / 3000 cc petrol), a 50% in-in-in-date is applied initially, which falls up to 10% to 10%. Small cars under 1500 cc follow a similar tariff reduction path with a mounting quota. “In-Menvot vehicles enjoy rapidly reduced duties, while out-of-kota imports still face tariffs ranging from 95% to 50%, depending on the size and year of the vehicle,” GTRI said.In electrix, the market use is mostly given in the high price segment of vehicles priced more than £ 80,000 (about 94 lakh rupees). “For vehicles below £ 40,000, no market access has been provided, which ensures complete security for the Mass-Market EV segment in which India wants global leadership,” said the official said.While the duty cut will only occur when the UK’s Parliament approves the agreement (possibly by the middle of the next year), analysts believe that lack of duty with the UK can pave the way for similar measures with other countries and trading blocks. “This is India’s first auto tariff concession in any FTA, and it is likely to trigger similar demands from Japan, European Union, South Korea and America,” said GTRI.“Up to the year five, more than 37,000 UK-made ice vehicles can enter India annually at 10% duty-much below the current base rate of 110%. It creates a preferential entry route for high-ending British brands … but also for the UK-based exports. FTAS.,
