- India is considering reducing import taxes on certain electric vehicles from the UK as part of ongoing free-trade deal negotiations.
- The proposed tariff under consideration is a concessional 30% rate on 2,500 electric vehicles imported annually from the UK, with a value exceeding $80,000.
- This reduction in import taxes on high-end electric vehicles aims to stimulate the electric vehicle market in India, which has faced challenges due to high costs and limited options.
- The free-trade deal negotiations, including the reduction of import tariffs on electric vehicles, are seen as a way to boost bilateral trade and are expected to be finalized in December.
- The Indian government is cautious about electric vehicle imports, as it seeks to promote domestic manufacturing through incentives and programs.