India-UK FTA: Lower Auto Import Duties to Boost Indian Component Makers
Sunil Bharti Mittal, Chairman of Bharti Enterprises, says the India-UK Free Trade Agreement (FTA) will benefit Indian auto component manufacturers, even though it includes duty cuts on UK car imports.
???? Key Points:
Import duty on UK cars (electric & fuel-based) will drop from 100% to 10% gradually over 10–15 years, under a yearly quota.
This will not hurt Indian manufacturing, but attract UK companies to:
Import components from India
Set up factories in India to reduce costs and tap into the large domestic market
???? Why UK Companies Will Look to India:
Lower production costs
Skilled workforce
Growing local and global demand
UK faces high manufacturing costs and limited talent
“India already exports auto components to over 100 countries,” said Mittal, highlighting India’s global strength in auto parts.
???? Industry Response:
ACMA (Automotive Component Manufacturers Association of India) welcomed the deal.
It expects benefits like:
More export opportunities
Simplified regulations
Growth in electric mobility, precision engineering, and lightweight materials
Indian MSMEs will gain better access to UK markets through liberalized trade terms.
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