Volkswagen lone supporter of India-EU FTA

Volkswagen is perhaps the only car producing company in India which is in favour of the controversial free trade agreement (FTA) between India and the European Union.

The group, which is present through three brands —Volkwagen, SkodaAuto and Audi in India— expressed support for the proposed FTA, which proposes to cut import duties to 10 per cent from 60 per cent for vehicle imported from Europe.

John Chacko, Volkswagen group chief representative India, president and managing director Volkswagen India Private said on Thursday he wanted duties from the both sides to come down to zero which would be beneficial for both sides. “We think that the Indian industry is very competitive and therefore there should be no feelings that its going to be a huge influx of cars from the EU because the industry here is not competitive. I know how competitive I am,” Chacko said.