{"id":22954,"date":"2026-01-27T10:04:32","date_gmt":"2026-01-27T08:04:32","guid":{"rendered":"http:\/\/jhb-webdevelopers\/channelafrica\/news\/india-eu-slash-tariffs-on-autos-spirits-textiles-in-landmark-trade-deal\/"},"modified":"2026-02-27T16:33:50","modified_gmt":"2026-02-27T14:33:50","slug":"india-eu-slash-tariffs-on-autos-spirits-textiles-in-landmark-trade-deal","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/india-eu-slash-tariffs-on-autos-spirits-textiles-in-landmark-trade-deal\/","title":{"rendered":"India, EU slash tariffs on autos, spirits, textiles in landmark trade deal"},"content":{"rendered":"<div>India and the European Union (EU) have finalised a long-pending landmark trade deal, both sides said on Tuesday, as they seek to hedge against fickle ties with the United States (US).<\/div>\n<div><\/div>\n<div>The deal is expected to double EU exports to India by 2032 by eliminating or reducing tariffs in 96.6% of traded goods by value, and will lead to savings of $4.75 billion in duties for European companies, the EU said.<\/div>\n<div><\/div>\n<div>The EU will cut tariffs on 99.5% goods traded over seven years, with tariffs to be cut to zero on Indian marine goods, leather and textile products, chemicals, rubber, base metals and gems and jewellery, India&#8217;s trade ministry said in a statement.<\/div>\n<div><\/div>\n<div>&#8220;Yesterday, a big agreement was signed between the EU and India,&#8221; Indian Prime Minister Narendra Modi said earlier.<\/div>\n<div>&#8220;People around the world are calling this the mother of all deals.<\/div>\n<div><\/div>\n<div>This agreement will bring major opportunities for the 1.4 billion people of India and the millions of people in Europe,&#8221; he said.<\/div>\n<div><\/div>\n<div>The accord would open up India&#8217;s vast and highly guarded market, with New Delhi slashing tariffs on cars to 10% over five years from as high as 110%, according to an EU statement, benefiting European automakers such as Volkswagen, Renault, Mercedes-Benz and BMW.<\/div>\n<div><\/div>\n<div>India is also slashing tariffs on alcoholic beverages like wines to 75% immediately from 150%, which would be lowered to 20% gradually.<\/div>\n<div><\/div>\n<div>Tariffs on spirits will be lowered to 40%, the EU said.<\/div>\n<div><\/div>\n<div>The deal will also cut tariffs on a slew of EU goods coming to India including machinery, electrical equipment, chemicals and iron and steel, the EU said.<\/div>\n<div><\/div>\n<div>&#8211;Reuters&#8211;<\/div>\n","protected":false},"featured_media":22955,"template":"","meta":{"_acf_changed":false},"news-type":[78,44],"class_list":["post-22954","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-featured","news-type-finance","entry"],"acf":{"short_description":"","published_date":null,"news_description":"EU have finalised a long-pending landmark trade deal","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22954\/revisions"}],"predecessor-version":[{"id":26078,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22954\/revisions\/26078"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/22955"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=22954"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=22954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}