Wide-ranging deal will cut tariffs to zero over seven years as Modi hails ‘largest free trade agreement’ in India’s history
The European carmakers’ association has welcomed the EU’s trade deal with India, saying it sent “a strong statement of intent by both parties to furthering more open and mutually beneficial trade relations.”
“It will greatly help European automobile exports enter a market of 4 million passenger cars that, until now, has been protected by prohibitively high import tariffs of up to 110%,” the European Automobile Manufacturers Association, or ACEA, added.
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