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India-UK trade deal boosts Jaguar Land Rover, import duties drop

Business

India and the UK recently signed a new trade deal that's great news for Jaguar Land Rover (JLR).
Import duties on JLR's luxury cars are dropping from a steep 110% to just 10%, making it way easier—and hopefully cheaper—for these high-end rides to hit Indian roads.
This move could really boost JLR's growth in India, which is a key market for them.

FTA strengthens ties between India and UK

Right now, most JLRs sold in India are made locally and already get tax breaks, but this new deal mainly helps their top-tier SV models shipped from the UK.
While prices aren't final yet, JLR's Chief Commercial Officer Lennard Hoornik says this agreement should clear up business hurdles.
Big picture: the FTA is set to strengthen ties between India and the UK, open up more British goods at better prices for Indian buyers, and create jobs on both sides.