Indian exporters worried over withdrawal of Generalised System of Preferences

By Anupama Vimal

The Indian exporters are a worried lot over the United States’ move to withdraw the Generalised System of Preferences (GSP) and has asked the Indian Government to support them in case GSP is withdrawn. 

However, the government said that there was no confirmation from the Trump government on GSP, of which India is the largest beneficiary. 
The traders had raised the apprehension in a recent meeting. In the meeting, some of the traders opined that the government should have to influence the Trump government through the American industry. However, majority of the traders were of the opinion that the government should come up with some alternative mechanism to support them in case the US withdraws Generalised System of Preferences.  

GSP scheme was devised for promoting exports of developing countries. It allowed duty-free access to as many as 3,500 items from the States.

It has been said that the US has come up with the new blockades after India came up with some stringent measures in e commerce. India has recently tightened Foreign Direct Investment in e commerce.

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