Question

WHAT IS THE GSP OF INDIAN ​

Answer 1

In 2018, India was the largest beneficiary of GSP. Over one-tenth (USD 6.3 billion) of US goods imports from India entered duty-free under the program, such as chemicals, auto parts, and tableware. GSP removal reinstated US tariffs, which range from one per cent to seven per cent on the top 15 GSP bilateral imports.

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Answer 2

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The Generalized System of Preference (GSP) is the largest and oldest US trade preference programme and is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries.

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