Mercedes-Benz India urges the government to negotiate FTAs and reduce trade barriers for growth in luxury car sales.
Mercedes-Benz, India's top luxury car seller, requests India's new government to negotiate more Free Trade Agreements (FTAs) and reduce trade barriers to enhance luxury car sales. Record sales in 2023, driven by India's expanding affluent class, are impeded by high import taxes on cars and components, discouraging local production expansion. Mercedes-Benz India's CEO, Santosh Iyer, believes FTAs and reduced trade barriers are crucial for economic growth.
May 31, 2024
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