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Soon, your favorite superbikes namely Ducati, MV Agusta, and BMW are going to get cheaper. Basically, India is making some trade agreements with the European countries to bridge the FTA (Free Trade Agreement). Consequently, this will embrace a positive impact over the motor enthusiasts and help them dealing with the European products to land on the Indian shores via CKD or CBU route in a decent price than earlier. By this, the barriers like import taxes and tariffs between the countries will be eliminated.
A free trade agreement with the European nations will help in the reduction of import duties on automobiles from countries like Germany and Italy. Apparently, the loving tourers from Ducati, BMW, and MV Agusta may get their prices reduced.
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The news is not only confined to bikes, cars may also get a positive response in this aspect. Mentioning all the luxury brands here like Audi, BMW, Mercedes-Benz, Porsche, Volvo, etc. the outcome in pricing would be in utmost favor. An Economic Times report says that Nirmala Sitharaman, Union Minister for Commerce and Industry is making serious efforts in dealing with the European ministry. Presently, our country has this FTA agreement only with the ASEAN nations such as Japan, Canada, and South Korea.
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