New Delhi will immediately cut import duty on luxury cars to 30% from as high as 110% under the India-EU FTA, an official said, opening the tightly controlled market to the likes of Mercedes-Benz to BMW and Volkswagen AG’s Audi. The Mercedes-Benz logo is pictured on the hood of a car. (Unsplash) While India has […]
The India-EU trade deal has eliminated tariff on Indian textile and leather exports to the European Union, in what is seen as significant relief to the sectors battered by 50% import duty imposed by the US. A woman working at a textile unit in India (HT_PRINT) The new tariff rates are: Textile, Apparel and Clothing: […]
Mahindra & Mahindra Ltd. led declines in auto stocks on Tuesday amid reports that the India-EU trade deal includes a clause to slash import duty on cars. The Mahindra Thar Roxx. (Handout) M&M’s share price fell as much as 5.07% to ₹3,363.70 apiece on the NSE, even as Nifty Auto index was down 2.18% intraday. […]
Mumbai: The proposed free trade agreement (FTA) between India and the European Union is expected to sharply reduce import duties on automobiles including electric vehicles (EVs) from the 27-nation bloc to 10-15%, potentially triggering a surge in European luxury EV sales in India, said people familiar with the matter. The deal, expected to be announced […]
NEW DELHI: India’s average crude oil import cost fell below $60 a barrel on Monday, among the lowest it has been in five years despite global geopolitical upheavals and sanctions against three major crude oil suppliers—Iran, Russia and Venezuela. The daily average price of various crude grades (popularly known as Indian basket) dipped to $59.29 a barrel […]