New Delhi, Sept. 14 -- European automakers will get concessional access for up to 100,000 ICE and hybrid cars in the first year of the India-EU FTA, nearly six times the 17,191 vehicles imported from the bloc in 2025.

The agreement could intensify competition for domestic automakers while creating greater export opportunities for Indian manufacturers such as Maruti Suzuki, Tata Motors and Mahindra and Mahindra (M&M).

The concessional quota for European ICE and non-plug-in hybrid cars will rise to 160,000 units by Year 10, with the in-quota duty falling to 10 percent by the fifth year, reported Business Standard.

Reciprocal Access For Indian Cars

Under the agreement, the EU will receive a quota for Indian-origin ICE and hybrid cars pri...