Lawmakers in US want restoration of GSP for India
Prior to Prime Minister Narendra Modi and US President Donald Trump’s upcoming meeting later this month, 44 American lawmakers requested the Trump administration to reinstate India’s designation as a beneficiary developing nation under the Generalised System of Preferences (GSP) programme.
The US terminated incentives to US$ 6.3 billion of Indian exports under the GSP programme from June 5 this year. This jeopardized talks that were going on between the two countries to bolster their trade. Argentina, Liberia and Myanmar are some of the countries where US restored the benefits after they made “sufficient progress” to be eligible for them.