Business Standard ·
DGFT go-ahead for 7 firms to import 642 cars from UK under free trade pact
Under the pact, tariffs on automotive imports will fall from about 110 per cent to 10 per cent, with quotas on both sides
DGFT has approved seven companies to import 642 cars from the UK under the India-UK FTA's tariff rate quota
The commerce ministry's arm DGFT has approved applications of seven companies for the import of 642 cars for the remainder of this year from Britain under the tariff rate quota provisions of the India-UK free trade agreement, an official said on Wednesday.
The Directorate General of Foreign Trade (DGFT) in July invited applications for the allocation of 2026 import quotas for fully-built passenger cars and goods vehicles under the duty concession provisions of the agreement. The applications were sought for a quota for about 5,000 units.
