NEW DELHI: The United States of America (USA) has withdrawn India’s Generalized System of Preferences (GSP) benefits. These are unilateral, non-reciprocal and non-discriminatory benefits extended by some developed countries to developing countries. India as part of bilateral trade discussions, had offered resolution on significant US requests in an effort to find a mutually acceptable way forward. Unfortunately, this did not find acceptance by the US.
The Ministry of Commerce and Industry later said that India will continue to build strong ties with the US, both economic and people-to-people. We are confident that the two Nations will continue to work together intensively for further growing these ties in a mutually beneficial manner.
