$TAIKO , $AUCTION , $RIVER India and the European Union (EU) are close to signing a big trade deal (called FTA = Free Trade Agreement).
Right now, if a car is made in Europe (like BMW, Mercedes, Volkswagen, Audi etc.) and brought to India, the Indian government adds a very high extra tax (called import tariff or duty) — up to 110%!That means a car that costs ₹50 lakh in Europe can easily become ₹1 crore+ in India after this tax.
That's why most imported European cars are super expensive here.
Good news in this deal → India has agreed to cut this tax down to 40% for some cars (mostly premium/luxury ones priced above ~€15,000 or roughly ₹13-15 lakh before tax).Later (over time), it might even go down further to around 10%.
What this means in simple words:
.European cars (BMW, Mercedes, Audi, Volvo, etc.) will become cheaper in India — maybe not cheap like Maruti, but much more affordable than today.
.Rich people and car lovers will be happy — more options for luxury & better tech/safety cars.
.Indian car companies (Tata, Mahindra, Maruti etc.) will face more competition → they might improve quality, add better features, or lower some prices.
.Overall trade between India and Europe will grow — good for jobs, business, and the economy in the long run.
#tAiko
