US restoring India’s GSP status hope high during Modi visit

Speculation is high that US could consider reinstating India’s designation as a beneficiary developing nation under the key GSP trade programme as part of a potential trade deal between the two countries and both the countries will announce a trade package during Prime Minister Narendra Modi‘s visit.

The Trump administration terminated India’s designation as a beneficiary developing nation under the Generalized System of Preferences (GSP) on June 5. Recently Foreign Secretary Vijay Gokhale said it was up to America to take a call on reinstating India’s status as a beneficiary of that programme while asserting India meets the criteria for trade concessions under the GSP.

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