Tariff rates on imports of cars & motorcycles slashed to 70%

The government has slashed tariff rates on car and motorcycle imports in the Union Budget 2025-26. High-end cars priced above $40,000 will now attract a tariff rate of 70% from 125% earlier. The imports of motorcycles (including mopeds) will be taxed at 70% as against 100% earlier. Notably, Finance Minister Nirmala Sitharaman presented her eighth consecutive Budget on Saturday.