In a move that signals a seismic shift in global trade dynamics, the European Union and India today concluded negotiations for a historic and ‘commercially significant’ Free Trade Agreement (FTA). As the largest deal ever brokered by either side, the pact creates a massive free trade zone encompassing 2 billion people and the world's second and fourth largest economies.

While the agreement spans sectors from agriculture to pharmaceuticals, it is the automotive industry that stands as the centrepiece of this industrial realignment.

Cracking the 110% tariff wall

For decades, European automakers have struggled against India’s formidable trade barriers. Under the new agreement, these hurdles are set to crumble. India has committed to a radical reduction in car tariffs, which currently sit at a staggering 110 percent. According to the official release, these duties will be gradually slashed to as low as 10 percent.

Furthermore, the deal provides a massive boost to the automotive supply chain. Tariffs on car parts – a critical sector for European manufacturers – will be fully abolished within a 5-to-10-year window. This move is expected to integrate Indian and European manufacturing hubs more closely than ever before.

European Commission President Ursula von der Leyen hailed the deal as a milestone for rules-based cooperation. "The EU and India make history today. We have sent a signal to the world that rules-based cooperation still delivers great outcomes," she said.

With a population of 1.45 billion and a GDP of EUR 3.4 trillion, India is currently the world’s fastest-growing large economy. This FTA grants European carmakers and industrial firms a ‘privileged access’ that no other Indian trading partner currently enjoys.

Beyond the finished vehicles, the deal addresses the broader industrial ecosystem:

• Machinery & Chemicals: Tariffs of up to 44 percent on machinery and 22 percent on chemicals will be mostly eliminated.
• SME Support: Dedicated contact points will be established to help smaller European component manufacturers navigate the Indian market.
• Intellectual Property: The agreement guarantees high-level protection for designs and trade secrets, providing the legal certainty required for high-tech automotive transfers and R&D investment.

The deal is not merely about volume; it is about the future of mobility. A dedicated chapter on trade and sustainable development focuses on climate change and environmental protection.

To support India’s transition toward sustainable industrialisation – a move critical for the electric vehicle (EV) sector – the EU intends to provide EUR 500 million in support over the next two years. Additionally, a new EU-India platform for climate action cooperation is slated to launch in early 2026, likely serving as a catalyst for joint ventures in green hydrogen and battery technology.

The EU expects the deal to double its goods exports to India by 2032, saving European businesses approximately EUR 4 billion per year in duties.

The path to implementation now moves to the legal and political stage. The negotiated texts will undergo legal revision and translation before being presented to the European Council and the European Parliament for consent. On the Indian side, the agreement will move toward formal ratification.

After nearly two decades of stop-and-start negotiations – beginning in 2007 and relaunching in 2022 – the road is finally clear for a new era of Euro-Indian industrial synergy.

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Kordsa, a subsidiary of Sabancı Holding, presented its advanced material technologies to a global audience at the JEC World 2026 trade show in Paris. The company featured its latest breakthroughs in composite technologies tailored for the aviation, energy and automotive sectors. The event also served as a platform for Kordsa to communicate its sustainable growth strategy and technological transformation to an international network of stakeholders.

Held from 10 to 12 March 2026, JEC World is recognised as the premier global event for the composites industry. By convening the entire value chain, the exhibition enabled Kordsa to prominently display its expanding role and expertise in composite materials. The company’s presence was reinforced by its international subsidiaries, including US-based Fabric Development, Inc., Textile Products, Inc. and Axiom Materials, Inc., alongside Italy’s Microtex Composites Srl., demonstrating a unified approach shaped by evolving market demands.

Among the key innovations showcased were Ceramic Matrix Composite (CMC) technologies, carbon-reinforced prepregs, thermoplastic automotive interior components and structural body parts. These solutions are engineered to deliver high performance and reduced weight while simultaneously boosting production efficiency and minimising carbon footprint. For the aviation and energy industries, the company highlighted advanced composites designed to meet stringent demands for high-temperature resistance, durability and operational reliability.

Ergun Hepvar, CEO, Kordsa, said, “JEC World is one of the most important global meeting points in the field of composite technologies. On this platform, which brings together the entire value chain of the industry, we have the opportunity to closely observe both the current state of technologies and the trends that will shape the future. This year, we clearly saw that solutions focused on sustainability, lightweighting, high performance and production efficiency are becoming increasingly decisive. At the same time, we witnessed a transformation in customer expectations towards more integrated, agile and sustainable solutions. As Kordsa, we will continue to be an active part of this transformation and to develop value-creating solutions together with our customers.”

Emphasising that Kordsa differentiates itself in composite technologies by offering an end-to-end integrated structure, from R&D and serial production to supply chain and certification processes, Hepvar further added, “The increasing demand for advanced material solutions further strengthens our position in composites. We position composite technologies as one of our two strategic focus areas in Kordsa’s future. In this field, we adopt an approach that expands technological depth, product diversity and application areas simultaneously. Composite technologies stand out as a core area shaping both Kordsa’s present and future. Our goal is to deepen our capabilities here, build a structure that generates higher added value, differentiates itself and grows together with its customers.”

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Gemma Benbow, People & Organisation Director at Kia UK, has been named the overall winner of the 2026 ‘Inspiring Automotive Woman of the Year’ award. The accolade was presented at the 2026 Institute of the Motor Industry (IMI) Awards, held in partnership with the Automotive 30% Club. Julia Muir, founder of the Automotive 30% Club, presented the award to Benbow.

The award celebrates women who drive meaningful change in the automotive sector, particularly in inclusion, talent development and workplace culture. Benbow was initially recognised as one of 24 winners of the ‘Inspiring Automotive Women Award’ during a private reception prior to the main IMI Awards dinner. She was then selected from this group as the overall recipient.

Judges commended her transformative leadership and strategic approach to diversity and inclusion, which have significantly reshaped internal practices at Kia UK. Benbow has embedded inclusive principles into recruitment, leadership development and overall workplace culture. Her influence also extends to external partners, where she has promoted cross-industry collaboration and helped strengthen inclusion efforts within Kia’s dealer network.

Through her advocacy for gender equity, Benbow has become a key role model, encouraging others to lead with empathy and bold thinking. Her work has bolstered Kia UK’s reputation as a leader in diversity and inclusion, and the company continues to celebrate her lasting impact in building a more representative automotive industry.

Julia Muir, Founder of the Automotive 30% Club and CEO of Gaia Innovation Ltd, said, “Gemma has made an incredible impact at Kia UK, where, as the first and only female director, she is not only driving change but also being the change. She is a transformative leader whose strategic vision and unwavering commitment to diversity and inclusion has reshaped the culture of the organisation. She exemplifies the spirit of this award and is a truly inspiring Automotive Woman.”

Nick Connor, CEO, IMI, said, “Gemma is a truly deserving recipient of this award. Her leadership, strategic vision and unwavering commitment to diversity and inclusion are helping to reshape the culture of the automotive industry and open the door for the next generation of talent. She is a powerful role model whose passion, empathy and determination to drive positive change perfectly reflect the spirit of this recognition.”

Benbow said, “I am incredibly honoured to receive the 2026 ‘Inspiring Automotive Woman of the Year’ award, and I’m truly grateful to both the Automotive 30% Club and the IMI for this recognition. It means a great deal to be acknowledged by such respected organisations within our sector.

“This award reflects the hard work Kia’s senior management and P&O teams have done to transform the culture of Kia UK, building an environment where inclusion, equity and a genuine sense of belonging are embedded into every part of the employee experience. I’m immensely proud of the progress we’ve made together and of the positive impact it has had both for our people and for the success of the business.

“I am proud to work for Kia, and I believe wholeheartedly that the company’s achievements are driven first and foremost by the talented, dedicated people behind it. This recognition is as much theirs as it is mine.”

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The automotive industry witnessed its best-ever sales for the month of February with a record 2.36 million vehicles sold across categories last month, which marks a 30 percent YoY growth as per the latest data shared by the Society of Indian Automobile Manufacturers (SIAM). For context, in February 2025, a total of 1.82 million vehicles were sold.

The two-wheeler segment reported a 35 percent YoY growth with sales of 1.87 million units, as compared to 1.38 million units last year. The performance was driven across categories – scooters (+42 percent), motorcycles (+31 percent) and mopeds (+34 percent).

The three-wheeler segment saw a 29 percent uptick with sales of 74,573 units, as against 57,788 units last year.

The passenger vehicle segment continued to witnessed a double-digit uptick with SUVs witnessing a robust demand. A total of 417,705 passenger vehicles were sold last month, as compared to 377,689 units a year ago. SUVs with 13 percent YoY growth continue to drive the momentum for the segment.

Rajesh Menon, Director General, SIAM, said, “Positive sentiments in the industry continues as passenger vehicles, two-wheelers and three-wheelers posted their highest ever Sales of February in 2026, with double-digit growth, compared to February 2025. While the month of March has festive drivers in several parts of the country, the recent conflict in West Asia remains a concern, both from the perspective of the supply chain, which could impact the manufacturing processes and exports. Industry would keep a close watch on evolving Geopolitical developments.”

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The Supervisory Board of German luxury brand BMW AG has appointed Raymond Wittmann to the Board of Management. He will assume responsibility for Production on 13 May 2026.

The appointment also coincides with Milan Nedeljkovic becoming Chairman of the Board of Management.

Wittmann joined the BMW Group in 2015 and has led Corporate Strategy and Corporate Development since 2024. His previous roles include Head of Assembly at the Munich plant, CFO of the Americas sales region, and Project Manager for the production site in San Luis Potosí, Mexico. He holds a PhD in aerospace engineering and previously worked as a partner at a consultancy.

Dr. Nicolas Peter, Chairman, Supervisory Board of BMW AG, said, “Raymond Wittmann combines strategic thinking with operational excellence and business responsibility. With his broad, cross-divisional experience and international perspective, he has the key qualities for leading the production division.”

“Raymond Wittmann complements the future Board of Management team led by Milan Nedeljkovic with the right strengths and skills. The Supervisory Board is very confident that the Board of Management, in its new composition, will continue to drive the success of the BMW Group in the future,” said Dr. Peter.

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