India will grant zero-duty access to US motorcycle makers for bikes with engine capacities of 800-1,600 cc and above under the interim trade agreement, a move that would benefit iconic American brand Harley-Davidson, an official said on Saturday.
Last year, the government had reduced import duty on motorcycles with engine capacities of up to 1,600 cc, which are imported as completely built-up (CBU) units, from 50 per cent to 40 per cent.
For motorcycles with engine capacities exceeding 1,600 cc, the duty was curtailed to 30 per cent from 50 per cent.
India and the US on Saturday issued a joint statement on an interim trade pact, which is expected to be signed by mid-March.
The official said that the duty elimination will come into effect on the day of the implementation of the agreement.
India is a small market for high-end premium bikes and the US’ share in the segment is miniscule.
In October 2020, Hero MotoCorp and Harley-Davidson announced a partnership for the Indian market.The Headlines – Latest News – Read More
