European automobile companies are likely to benefit from the new EU and India trade deal that will significantly reduce import duties on European cars, making them more competitive in India’s burgeoning market. But the gain may be limited as the market will still be dominated by local brands and affordable Japanese cars, which are more suitable for the Indian market. Currently, European automobile companies have less than 3% market share, mainly in the luxury car segment. The deal may create opportunities in the long term as India’s automobile market will continue to grow.
EU Carmakers Face Tough India Market Even After Trade Deal
