NEW DELHI, Sep 11: India’s proposed trade pact with the European Union will offer major opportunities for the domestic auto industry, particularly in boosting exports and forging partnerships with EU automobile giants, said Commerce Ministry official Rajesh Agrawal.
He emphasized that while the agreement aims to expand market access, it will also include safeguards to protect sensitive sectors like auto.
The deal, similar to India’s FTA with the UK, proposes gradual tariff cuts over 10–15 years.
Agrawal also urged the auto industry to diversify supply chains amid Chinese restrictions and highlighted the need to address cost disadvantages to enhance global competitiveness. (PTI)
