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India-EU free trade pact set to lower prices of luxury cars, wines and medicines

The India-EU free trade pact is set to cut import duties on luxury cars, wines and medicines, while opening European markets for Indian exports.

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India European Deal

After nearly two decades of negotiations, India and the European Union have sealed a Free Trade Agreement that is expected to significantly reduce prices of several European products in India while expanding export opportunities for Indian manufacturers.

Described by European Commission President Ursula von der Leyen as the “mother of all trade deals”, the pact aims to deepen economic cooperation by easing tariffs and improving market access on both sides.

Luxury cars likely to become more affordable

One of the most noticeable impacts of the agreement will be in the premium automobile segment. Imported European cars such as Mercedes, BMW and Audi currently face import duties exceeding 100 per cent in India.

Under the new agreement, vehicles priced above 15,000 euros (around Rs 16 lakh) will see duties reduced to 40 per cent initially, with a further cut to 10 per cent planned over time. This is expected to bring down prices by several lakh rupees.

The concessions will operate under a quota system to safeguard India’s domestic automobile industry. Officials clarified that smaller, mass-market cars — which dominate India’s auto sector — will not be directly exported by European manufacturers, though local manufacturing remains an option.

Imported wines and spirits to get cheaper gradually

European wines from countries such as France, Italy and Spain are also set to become more affordable. India currently levies an import duty of 150 per cent on wines. Under the pact, this will be reduced to 20 per cent, though the change will be phased in over five to ten years to limit disruption to domestic producers.

The agreement is expected to reduce prices of premium spirits such as cognac, high-end gins and vodkas. However, wines priced below 2.5 euros will not receive duty concessions, a move aimed at protecting Indian manufacturers. Indian wines, meanwhile, will gain improved access to European markets.

Cheaper medicines and medical equipment

The trade deal is expected to benefit India’s healthcare sector by lowering the cost of imported medicines, particularly for cancer and other critical illnesses. Advanced medical equipment sourced from Europe is also likely to become cheaper.

At the same time, pharmaceuticals manufactured in India will gain access to all 27 EU member countries, strengthening India’s position as a global supplier of affordable medicines.

Electronics, steel and chemicals to benefit

The agreement removes tariffs on aircraft spare parts, mobile phone components and other high-tech electronic items imported from Europe. This could reduce manufacturing costs for electronic devices in India, potentially benefiting consumers.

Additionally, proposals for zero tariffs on iron, steel and chemical products may lower raw material costs for industries such as construction, with possible downstream benefits for homebuyers and infrastructure projects.

Overall, the India-EU Free Trade Agreement is being seen as a major boost for Indian exports, particularly in sectors such as garments, leather and jewellery, while offering Indian consumers access to more competitively priced European goods.

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US-Iran tensions escalate as Tehran claims drone fleet destroyed in Bahrain

Iran claimed it destroyed a US military drone fleet in Bahrain after fresh American strikes targeted multiple sites across the country, further escalating tensions in the Gulf region.

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The military confrontation between the United States and Iran intensified on Sunday as both countries exchanged fresh attacks across the Gulf region. Iran claimed it destroyed a US military drone fleet in Bahrain after Washington launched another round of strikes targeting multiple military sites inside the country.

The latest escalation comes amid growing tensions over the strategically important Strait of Hormuz, a key global shipping route for oil and natural gas exports.

US says fresh strikes targeted Iran’s military capabilities

The US Central Command (CENTCOM) said it carried out precision strikes on dozens of targets across Iran to weaken Tehran’s ability to threaten international shipping passing through the Strait of Hormuz.

According to the US military, the targets included Iranian air defence systems, coastal radar installations, missile and drone infrastructure, and small military boats. CENTCOM also said it deployed fighter aircraft, naval vessels, one-way attack aerial drones and one-way attack sea drones during the operation.

US officials said the latest offensive followed an alleged attack by Iran’s Islamic Revolutionary Guard Corps (IRGC) on a commercial vessel transiting the Strait of Hormuz. Washington has maintained that the strikes were intended to protect maritime security in the region.

US President Donald Trump also defended the operation, saying the American military had carried out extensive strikes against Iranian targets.

Iran claims attacks on US military bases

Iran responded by announcing strikes on several American military installations across the Gulf. Iranian state media reported that US bases in Bahrain, Kuwait, Qatar, Jordan and Oman came under attack as Tehran expanded its military response.

Iran’s IRNA news agency claimed that drone operations were continuing against American positions and alleged that an entire US military drone fleet stationed in Bahrain had been destroyed. However, the United States has not confirmed this claim.

In a statement, the IRGC said its aerospace forces targeted helicopter maintenance facilities, a hangar housing a P-8 surveillance aircraft and a US military drone command-and-control centre. Iranian media also reported attacks on defence systems, bunkers and support shelters at US facilities in Kuwait, including the Ali Al Salem and Ahmad Al-Jaber air bases.

Casualties reported in Iran

Iranian authorities said at least one person was killed and four others were injured after a projectile struck an agricultural water pumping station in Mahshahr in Khuzestan province.

According to local officials, the person killed was a security guard stationed at the facility. Iranian authorities said the attack occurred during the early hours of Sunday.

Explosions reported across multiple provinces

Iranian media reported explosions in several provinces following the latest US strikes.

In Hormozgan province, blasts were reported in Jask, Sirik, Qeshm Island and Bandar Abbas, where several radar installations and military facilities are located.

Explosions were also reported in Omidiyeh, Mahshahr, Behbahan, Dezful and areas near Ahvaz in Khuzestan province. Additional strikes were reported near Chabahar in Sistan-Baluchestan province and around Khondab in Markazi province, where Iran’s heavy water facilities are situated.

Diplomatic efforts face setback

Tehran said the latest US attacks had rendered months of diplomatic efforts ineffective, signalling a further deterioration in relations between the two countries.

The latest exchange of strikes has heightened concerns over regional stability and the security of maritime traffic through the Strait of Hormuz, one of the world’s most important energy corridors.

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Bangkok bar fire kills 27, leaves 22 in critical condition as probe begins

At least 27 people were killed and 63 injured after a devastating fire swept through a Bangkok bar late Sunday. Authorities are investigating the cause of the deadly incident.

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A massive fire at a bar in Thailand’s capital Bangkok late Sunday night killed at least 27 people and left dozens injured, officials said. Rescue teams and firefighters rushed to the scene after flames rapidly engulfed the venue, while people desperately tried to escape through thick smoke.

The fire broke out at the Na Ladprao pub in northern Bangkok around midnight. Firefighters managed to bring the blaze under control after battling it for nearly 30 minutes.

Smoke believed to have caused most deaths

Bangkok Governor Chadchart Sittipunt said the fire spread rapidly throughout the premises, reaching the ceiling within a short time.

According to the governor, smoke inhalation is believed to have been the primary cause of most fatalities. He confirmed that 27 people died in the incident, while 63 others were admitted to hospitals. Of those injured, 22 remain in critical condition.

Authorities have launched an investigation to determine how the fire started.

Probe underway into possible blocked escape route

Officials said several victims were discovered near a fire exit, raising concerns that the escape route may have been obstructed during the emergency.

Authorities are also working to establish how many people were inside the venue when the fire broke out, as the exact occupancy remains unknown.

Thailand Prime Minister Anutin Charnvirakul visited the site and said investigators have not yet determined the exact cause of the blaze.

Musician reported smoke before explosion

The prime minister said a musician performing at the pub told him that smoke was seen coming from a circuit breaker near the stage shortly before the electricity went out.

According to the account, an explosion was heard moments later, after which thick smoke quickly spread across the venue.

Officials also said many victims were found inside restrooms located at the rear of the pub.

Videos capture panic as flames engulf venue

Videos shared online by first responders showed flames consuming the entrance of the bar as thick black smoke billowed into the night sky. People were seen rushing out in an attempt to escape the rapidly spreading fire.

Photographs taken after firefighters extinguished the blaze revealed severe damage inside the venue, with charred interiors and burnt furniture.

Singer Sukanya Wongwongwai, who was performing nearby, said she rushed to the pub after learning about the fire because several members of her band were performing there.

She said one band member died in the blaze, three others were hospitalised and another person remains missing.

According to accounts shared by survivors, the venue went dark when the fire started after the power failed, making it difficult for people to find exits amid the dense smoke.

Authorities continue to investigate the incident, including whether any safety lapses contributed to the high number of casualties.

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Vietnam boat tragedy kills 15 Indian tourists; PM Modi condoles, rescue efforts continue

At least 15 Indian tourists were killed after a tourist boat capsized near Vietnam’s Phu Quoc Island. Rescue operations are underway and the Indian Embassy has opened emergency control rooms.

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At least 15 Indian tourists were killed after a tourist boat carrying 36 people overturned near Vietnam’s Phu Quoc Island on Saturday. Search and rescue operations remain underway, while the Indian Embassy has established emergency control rooms to assist affected families and coordinate with local authorities.

Boat overturned amid rough weather

According to local media reports, the vessel was carrying 36 people, including 32 Indian tourists, three crew members and one attendant. The boat reportedly capsized shortly after departing Hon May Rut Ngoai Island for An Thoi Port at around 1 pm local time (11:30 am IST).

The accident is believed to have occurred due to rough seas and strong winds, causing everyone on board to fall into the water.

Authorities rescued 21 people and shifted them to hospitals for treatment. Two of the rescued passengers are reported to be in critical condition.

Indian Embassy sets up emergency assistance

The Indian Embassy in Vietnam said it is closely monitoring the situation and has activated emergency control rooms to help affected Indian nationals and their families.

In a statement on X, the Embassy said it was gathering details of the incident while local authorities continued search and rescue efforts.

The Indian Ambassador, along with Embassy officials, is travelling to Phu Quoc Island to oversee consular assistance, coordinate with Vietnamese authorities and support the affected Indian citizens.

Lava Mobiles confirms team members involved

Lava Mobiles said some of its employees and channel partners were among those involved in the accident.

The company stated that it is in constant contact with the Embassy of India in Vietnam and local authorities to obtain updates about the safety and well-being of its personnel. It added that teams in both India and Vietnam are providing all possible assistance to affected families.

Sources said around 110 Lava distributors and employees from South India were on a visit together.

PM Modi, Rahul Gandhi express condolences

Prime Minister Narendra Modi expressed grief over the tragedy and offered condolences to the families of those who lost their lives. He also wished a speedy recovery to the injured survivors and said Indian diplomatic missions were extending all possible assistance while remaining in close contact with Vietnamese authorities.

Leader of Opposition Rahul Gandhi also conveyed his condolences and urged the Government of India and the Ministry of External Affairs to work closely with Vietnamese authorities to support ongoing rescue operations and provide necessary assistance to affected families.

Andhra Pradesh government seeks details

Andhra Pradesh Human Resources Development Minister Nara Lokesh spoke with senior officials after reports indicated that tourists from the state may have been among those affected.

He directed officials to coordinate with the Central Government and ensure all possible support is provided to the victims and their families.

Emergency control room numbers

To assist affected Indian nationals, the Indian mission has opened control rooms at the Consulate General of India in Ho Chi Minh City and the Embassy in Hanoi.

The Ho Chi Minh City control room can be contacted at +84 36 281 7930, +84 91 552 37 14 and +84 33 452 0414.

The Hanoi control room is available at +84 91 308 9165.

The Embassy said both control rooms remain operational for information, assistance and support related to the incident.

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