Jaguar Land Rover (JLR) India has slashed prices of its flagship imported Range Rover models by up to Rs 75 lakh, positioning the move as an early benefit for customers ahead of the anticipated India-UK Free Trade Agreement (FTA).

JLR India on Tuesday announced slashing of prices of its Range Rover completely built unit models imported from the UK by up to Rs 75 lakh in anticipation of the India-UK FTA.

The key models benefitting from the FTA are Range Rover SV and Range Rover Sport SV, JLR India said in a statement.

Under the new pricing, "the Range Rover SV has been repriced from Rs 4.25 crore to Rs 3.5 crore (starting price ex-showroom)", it added.

Also, the price of Range Rover Sport SV has been reduced to Rs 2.35 crore from Rs 2.75 crore, significantly strengthening its market positioning, the company added.

"The revised prices reflect the new duty structure enabled by the FTA and will be effective immediately," it said.

Commenting on the development, JLR India Managing Director, Rajan Amba said,"In anticipation of the India-UK FTA being implemented, we are pleased to extend its benefits to our clients. The updated pricing of Range Rover SV and Range Rover Sport SV underscores our customer-first approach and commitment to building long-term relationships with our clients." He further said,"We are confident that this FTA will allow more clients to experience the highly desirable and aspirational SV portfolio, and further strengthen the JLR India growth story."

JLR India said prices of locally manufactured models, including Range Rover, Range Rover Sport, Range Rover Evoque, Range Rover Velar and Discovery Sport, will not be impacted by the UK-India FTA.

Other models Defender and Discovery will maintain their current pricing structures as they are manufactured in Slovakia, Europe and hence do not fall under the purview of the UK-India FTA, it added.