Agrahayana 21, 1928
The US has invited written comments from the 13
beneficiary countries including India as to whether to limit, suspend or
withdraw the trade benefits to these countries under its annual review of
Gneralized System of Preferences Programme (GSP) scheme.
Out of US $ 18.8 billion of US’s imports from India, US $
4.17 billion were duty free under the US-GSP programme in 2005.
The countries which have annual GSP utilization of over US
$ 100 million and are a upper middle income economy as per World Bank or which
accounted for more than 0.25% of world’s goods exports in 2005 have been taken
up for the current review.
The Government of India has submitted a detailed petition
justifying the continuation of GSP benefit to India. This issue has also been
taken up in the bilateral meetings held from time to time.
This was stated by the Minister of State for Commerce &
Industry, Shri Jairam Ramesh, in a written reply in the Lok Sabha today.