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India-UK Trade Deal: India has given import duty to UK auto exporters only on big petrol, diesel and expensive electric vehicles. There will be no discount on small and mid size cars.
No discount for 5 years
No concession has been given to electric, hybrid or hydrogen-guard vehicles for the first 5 years of the agreement. That is, by 2030, there will be no discount on electric cars, hybrids or green fuel vehicles. However, no budget cars are currently imported from the UK. But in this time frame, if such models are brought to India from the UK in the future, then they will not get a discount on import duty.
Under the agreement, India has offered the UK phased and quota-based Libelai in the automobile sector, limited to Complete Built Units (CBU). These include petrol-diesel vehicles and green fuel vehicles such as electric, hybrid and hydrogen-retarded models, however, in the initial stages, green fuel vehicles such as electric, hybrid and hydrogen -ward -ward models are out of this concession.
Rebate will be given after 5 years
There will be tax exemption from the sixth year of the electric vehicles agreement., And even then it will be only for luxury models that cost more than £ 80,000. Vehicles priced less than £ 40,000, mostly mass-market EVs, are deliberately excluded from the tax release. Let us tell you that recently the free trade agrected between India and the UK has been signed, so that import duty will be reduced on many goods to be exported between the two, not only the car.