India Allows Import Of 378,000 UK Cars At Concessional Duty

24 Jun 2026 CW Team

India will allow the import of 378,000 vehicles from the United Kingdom at concessional duty in the first 15 years of a bilateral trade pact. The allowance equals 378,000 cars, or 0.378 million; million will be abbreviated as mn on subsequent mentions. The provision is part of the tariff schedule that determines market access in the initial phase of the agreement. It establishes a quantified quota for duty relief that is tied to the pact's timeline.

The concessional duty treatment will permit eligible passenger cars to enter under reduced tariff rates compared with the prevailing standard levies, subject to the conditions set out in the pact. The measure concentrates benefits in the initial 15 years of implementation and frames the scale of imports that qualify for the relief. Officials involved in negotiations characterised the arrangement as a calibrated opening for UK vehicle manufacturers. Administrative procedures and certification requirements will govern eligibility.

The allocation of zero point three seven eight mn vehicles reflects an explicit numeric cap over the initial phase and provides a clear parameter for trade flows under the pact. India retains policy instruments to regulate imports outside the concessional quota through standard tariffs and regulatory measures. The pact also sets out timelines for review and adjustment of commitments as implementation proceeds. Stakeholders in both markets will monitor flows and compliance with the accord.

The trade arrangement is intended to structure bilateral automotive trade within a predictable framework while balancing domestic industrial considerations and consumer access. Implementation details, customs processing and administrative oversight will determine how quickly allotted volumes translate into shipments. The quantified concession offers a mechanism to manage import intensity during the initial 15 years and to integrate vehicle trade into the broader bilateral economic relationship.

Real Estate

16 Jul 2026

VeARC leases 27,000 sq ft office space in Bengaluru

VeARC India has leased approximately 27,000 sq ft of office space at The Executive Centre's (TEC) Helios Business Park on Outer Ring Road (ORR), Bengaluru, to support the expansion of its Global Capability Centre (GCC) operations.The new workspace accommodates more than 450 workstations and is intended to support the company's growing workforce in India. VeARC India serves as the Global Capability Centre for Long Arc Capital.Located on Bengaluru's Outer Ring Road, the office provides access to one of the city's key technology and business corridors. The expansion comes amid continued growth in..

Bharat Shah Family Buys Four Luxury Apartments In Worli For Rs1.8 bn

The family of veteran investor Bharat Shah has acquired four ultra-luxury apartments on the higher floors of Kalpataru One in Worli, South Mumbai, for Rs1.8 billion (bn). The purchases were registered on 6 July 2026 and were executed through Preeti Bharat Shah and Kinnari Bharat Shah, who bought the flats from Kalpataru Properties Limited. Property registration documents reviewed by Zapkey show the total consideration at Rs1.7941 billion. The transactions recorded a per square foot RERA carpet price of Rs0.101 million (mn), with each apartment valued at about Rs448.5 million. The four residenc..

NITI Aayog Consultation On Critical Mineral Supply Chains

NITI Aayog convened a stakeholder consultation in New Delhi on Wednesday to assess requirements for critical minerals across strategic sectors, bringing together experts from government, research institutions, academia and industry. The meeting aimed to estimate current and future demand, identify supply chain vulnerabilities and discuss measures to strengthen domestic capabilities in exploration, processing and recycling. The exercise formed part of broader efforts to secure mineral value chains essential for economic growth, technological advancement and national security.\n\nDiscussions con..