BENEFITS OF US GENERALISED SYSTEM OF PREFERENCES
Date : 08 Dec 2003
Location : New Delhi
The US government presently denies Generalised System of Preferences (GSP) benefits to about 850 agricultural, chemical and pharmaceutical products from India. These products are eligible for GSP benefits from other countries and India’s request for early restoration of GSP benefits on these products has received positive indications for consideration by the US governments.
The US government presently extends the benefit of GSP scheme to about 140 developing countries including India. In the calendar year 2002, India exported duty-free products worth about US $ 2 billion under the US GSP programme.
This was stated by Shri S. B. Mookherjee, Minister of State for Commerce & Industry, in a written reply in the Rajya Sabha today.