India notifies rules for UK FTA vehicle import benefitsvehicle import benefits ahead of July rollout

India notified new rules for vehicle import benefits under its free trade agreement with the UK ahead of the July 15 rollout. The new regulations set specific customs duty rates and unit quotas for electric, hybrid, and passenger cars priced between GBP 40,000 and GBP 80,000.

This move matters as it activates the first major tariff concessions under the CETA agreement, lowering import costs for the UK automotive market in India.