No price reduction for Mercedes-Benz cars

The India-EU Free Trade Agreement (FTA) is set to significantly drive technological innovation in the Indian automotive sector, Mercedes-Benz India Managing Director and CEO Santosh Iyer said on Tuesday.

However, he ruled out any price reductions for the company’s vehicles in the foreseeable future following the deal. Terming the Indo-EU FTA a historic achievement for India, Iyer said the pact underscores the "rising relevance of the Indian economy at a global stage".