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  • US withdrawal of GSP benefits to India.
    Sat 22, 2019
  • A day after India’s new Cabinet was sworn in on May 30, President Donald Trump announced that the United States (US) was ending India's designation as a beneficiary developing nation under the generalised system of preference (GSP) scheme after concluding that India had failed to assure offering “equitable and reasonable access to its markets." India’s status ends on June 5.

    Started on January 1, 1976, GSP—the largest and oldest US trade preference programme—allows duty-free entry for over 3,000 products from designated nations. India has been the biggest beneficiary of the scheme and accounted for goods worth $5.7 billion—over a quarter of the goods that got duty-free access into the US—in 2017.

    read more..http://www.sriyadithatextile.com/home/pagenews/generalised-system-of-preference-gsp