Landmark Indo-EU Free Trade Agreement Spurs Innovation and Economic Growth

Luxury automakers such as Mercedes-Benz, BMW, and Audi celebrate the Indo-EU Free Trade Agreement as a significant move for technological innovation and economic enhancement. While this agreement is heralded as a historic achievement, the companies do not expect immediate changes in vehicle pricing without further details of the agreement.

The signing of the Indo-EU Free Trade Agreement has been hailed as a transformative moment by major automotive companies like Mercedes-Benz, BMW, Audi, and Stellantis. These companies foresee a significant boost in technological innovation and economic growth as a result of this agreement.

Despite the optimistic outlook, these luxury carmakers have made it clear that there won't be an immediate reduction in car prices. Mercedes-Benz India CEO Santosh Iyer emphasized the need to parse through the fine print before determining any impact on pricing strategies.

Industry leaders, including BMW India President Hardeep Singh Brar, highlight the importance of fair market access and robust supply chains through free trade. However, they stress that price evaluations will depend on an in-depth analysis of the agreement's details once available.

(With inputs from agencies.)