EU says India to slash tariffs on import of autos, wine and pasta

A giant free trade deal between India and the EU unveiled Tuesday will cut or eliminate tariffs on almost 97 percent of European exports, saving up to 4 billion euros ($4.75 billion) annually in duties, the 27-nation bloc said.

Tariffs on cars will be gradually lowered from a top rate of 110 percent to as low as 10 percent, while duties on wines progressively go down from 150 per cent to as low as 20 per cent.

Recommended For You

Bad Bunny’s Super Bowl sneakers just dropped in Dubai, here’s where to buy them

Restaurant Review: Helios delivers Mediterranean comfort by the sea

Indonesia plans to send up to 8,000 troops to Gaza in support of Trump’s Board of Peace

Farhan, spinners lead Pakistan to easy USA win in T20 World Cup

Real Madrid, Bayern Munich to play in Dubai Intercontinental U13 Cup

 

Currently at 50 per cent, tariffs on processed foods including pasta and chocolate will be completely eliminated, according to the European Union.