New Delhi, Jan. 27 -- Auto stocks Tata Motors, Mahindra & Mahindra (M&M), and Maruti Suzuki India fell up to 5% on Tuesday's session on fears of increased competition from India-EU FTA.

According to reports, the European Union is expected to make progress in areas such as automotive and technology products as part of the India-European Union Free Trade Agreement, while Electric Vehicles, Internal Combustion Engines (ICE), and Heavy Commercial Vehicles will have distinct quotas.

The import duty on cars from the European Union is set to decrease to between 30% and 35%, down from the current rates of 66% to 110%.

Additionally, India will gradually reduce the in-quota duty over five years, eventually reaching a rate of 10%.

Seema Srivasta...