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US extends duty benefits on Indian exports until next Govt is formed

The US has finally agreed to extend trade benefits to India under the Generalised System of Preferences (GSP) programme till the formation of a new Government in New Delhi and finalisation of a new trade package with it, sources have told. 

The decision to not withdraw the GSP benefits from India was informed by the Office of the US Trade Representative (USTR) over the weekend. 

The deadline to withdraw the GSP benefits was 4 May. 

“The GSP review is on hold for now…This is the result of some adroit diplomacy on our part from the Ministry of External Affairs, Commerce, PMO and the Indian mission there (in US),” a top Indian official involved in the talks told. 

The official also added that GSP benefits had been extended “long enough for India to revert after elections and engage with the US side”.

 

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