India-EU FTA draft: European cars, wine, farm goods set for lower tariffs; key points

European carmakers will get a significantly wider opening to India’s passenger vehicle market under the proposed India-EU free trade agreement, with the draft pact released on Friday providing for concessional import duties on up to 1 lakh cars in the first year. The quota will gradually rise to 1.6 lakh vehicles from the 10th year of implementation.