New Delhi: India has agreed to slash import duty only for “premium” cars and has fixed the number of vehicles that will get the benefit of lower levies, a senior UK official said on Tuesday. Under the agreement, which is expected to be implemented after a green light from the British Parliament, India will lower tariffs from over 100% to 10% for these cars, with electric vehicles “protected”, govt officials maintained. The UK official also said that at the moment, there is no road map for an increase in the quota.The official asserted that both sides have factored in their respective sensitivities. For instance, there is no reduction of duty by India on dairy products, and New Delhi too recognised UK’s concern over cutting tariff on sugar and milled rice.
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