India-EU FTA to unlock opportunities for domestic 2W makers to expand in Europe Industry

New Delhi, Jan 28 (PTI) The India-EU free trade agreement will unlock opportunities for domestic two-wheeler manufacturers to expand their footprint in the European market, according to industry leaders.
     Hero MotoCorp CEO Harshavardhan Chitale said the conclusion of the trade agreement between India and EU "heralds more than a commercial milestone" but it is a strategic partnership shaping resilient economies.
     "This agreement will unlock opportunities for the two-wheeler industry to expand their footprint and support 'Make in India' products to the European markets," he noted.
     This trade pact will strengthen regulatory cooperation, encourage R&D, innovation and deeper integration into global value chains, Chitale said.
     Expressing similar views, TVS Motor Company Chairman, Sudarshan Venu said, "Agreements of this scale don't just reduce tariffs, they transform business environments, strengthen supply-chain resilience, and open pathways for innovation-led Indian manufacturers to compete on the global stage."
     He further said, "As a global two-wheeler company, with the TVS and Norton brands, we're focused on identifying and pursuing the opportunities it will create for Indian industry in Europe and beyond."
     According to BNP Paribas India Analyst - IT & Auto, Kumar Rakesh, mid-sized motorcycle maker Royal Enfield could benefit from the India-EU FTA with a cut in EU import tariffs.
     EMEA (Europe, Middle East and Africa), one of the major markets for Royal Enfield, contributed 26 per cent of its exports but only 3 per cent of total volumes in FY25, he noted.
     India's two-wheeler exports to the EU were just about 1 per cent of the country's total two-wheeler exports, Rakesh added.

(This story has not been edited by THE WEEK and is auto-generated from PTI)