India-EU FTA promises cheaper European cars, beer, wine, food, medical equipment, and machinery as tariffs on over 90% of EU goods are slashed or removed.
Luxury cars: India will gradually reduce import duties on European cars to 10% from nearly 70%. With a quota of 2.5 lakh vehicles annually, premium brands are expected to become far more affordable. (Image-Canva)Beer: Imported European beer will see duties reduced from 110% to 50%. This sharp cut is expected to lower retail prices and expand the presence of global beer brands in Indian markets. (Image-Canva)Wine and spirits: Tariffs on the EU will drop 20-30%, while spirits fall to 40% from 150%. Premium and mid-range European alcohol could soon cost much less in India. (Image-Canva)Oil: Olive oil, margarine, and other vegetable oils imported from the EU will become tariff-free. Earlier duties went up to 45%, making this a major relief for health-conscious consumers. (Image-Canva)Chocolates and pasta: Processed foods like breads, pasta, chocolate, pastries, biscuits and even pet food will attract zero tariffs, down from 55%. European food brands may soon be easier on the pocket. (Image-Canva)Fruit juice and non-alcoholic beer: Tariffs on fruit juices and non-alcoholic beer will be slashed to zero from 55%. Imported beverages from Europe are expected to see noticeable price drops. (Image-Canva)Aircraft, chemical and steel: Aircraft and spacecraft parts will attract zero duty. Chemicals, plastics, iron, and steel products will also see tariffs eliminated, reducing costs for multiple industries. (Image-Canva)Fruits and lamb: Duties on EU kiwis and pears will drop to 10% from 33% under quota. Sheep meat imports will also become tariff-free, previously taxed at 33%. (Image-Canva)Medicines: Pharmaceutical imports from the EU will see duties cut from 11% to zero. This move may improve access to specialised medicines and advanced treatments. (Image-Canva)Medical equipment: Tariffs on 90% of European medical, surgical, and optical equipment will be removed. This could lower costs for hospitals, diagnostics, and patients across India. (Image-Canva)Pearls and metal jewellery- Tariffs on pearls, precious stones and metal jewellery will be reduced significantly to zero for 20% of products, while another 36% will see partial cuts, making European jewellery imports more affordable in India. (Image-Canva)Machinery and electronics: Import tariffs on European machinery and electrical equipment will drop from up to 44% to zero on most items, benefiting manufacturing and infrastructure projects. (Image-Canva)
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India-EU trade deal: India and the European Union have finalised a landmark Free Trade Agreement (FTA) that removes or reduces tariffs on over 90% of EU goods exported to India. Also called ‘Mother Of All Deals’, the deal aims to boost trade and deepen political and economic ties amid rising geopolitical tensions. (Image credit: X/@narendramodi)
