India-UK FTA: India to Reduce Import Tariffs on Luxury Cars such as JLR, Aston Martin, Bentley and Rolls-Royce to 10%

India has agreed to reduce import tariffs on luxury cars from the UK to 10% under the proposed free trade agreement (FTA), benefiting brands like Jaguar Land Rover, Aston Martin, Bentley and Rolls-Royce. The concession applies to vehicles above $40,000 CIF value and will be phased in over five years. In return, the UK will ease rules of origin requirements for Indian pharmaceutical exports. The auto tariff reduction aims to boost bilateral trade which currently stands at $20 billion annually. Indian luxury car market is expected to grow 15% post-FTA, though domestic manufacturers seek safeguards against import surges. The agreement also includes technology sharing provisions for electric vehicles, supporting India's green mobility transition.