EU to allow 2.5 lakh Indian cars at concessional duty under FTA; quota to reach 4 lakh in 10 years

•The EU will allow 2.5 lakh Indian cars at 8% duty, rising to 4 lakh in 10 years under a free trade agreement.

•Concessional duty will decrease to 6% in year 2, 4% in year 3, 2% in year 4, and zero in year 5.

•EU will allow 27,500 BEVs and PHEVs at 8% duty from year 5, increasing to 1.25 lakh in year 14.

•EU will provide quota-based duty concessions on Indian origin agricultural and processed food items, including table grapes and ghee.