India-EU FTA: Tariff on EU-made cars slashed from 110% tariff to 10%, but with a caveat

India and the European Union have finalized a Free Trade Agreement. Tariffs on cars will significantly decrease from 110% to 10% for 250,000 vehicles annually. This agreement marks a significant step in bilateral trade. Total trade between India and the EU exceeded 190 billion US dollars in 2024-25. India's exports to the EU reached 75.