India and the European Union have sealed a landmark free trade agreement (FTA) after nearly two decades of negotiations, a pact many are calling the “mother of all deals.” This historic agreement — expected to take effect in 2027 after legal reviews — will significantly lower or eliminate tariffs on a broad range of European goods, bringing meaningful savings for Indian consumers across multiple categories. Luxury Cars: Major Price Relief Likely One of the most eye-catching outcomes of the FTA is the sharp reduction in import duties on European cars. Currently, luxury imports often attract tariffs as high as 110 percent, but under the deal, cars costing over €15,000 (roughly ₹16 lakh and above) will initially face duties around 40 percent, eventually dropping to approximately 10 percent over time as part of a phased reduction plan. This could slash sticker prices by lakhs for premium brands like Mercedes-Benz, BMW, Audi and others, making them more accessible to Indian buyers. Wine, Beer and European Food Items Indian consumers will also see significant price drops in European beverages and food products. Tariffs on European wine — historically as high as 150 percent — are set to fall to around 20 percent for… Read MoreBusiness Archives – Trak.in – Indian Business of Tech, Mobile & Startups
