GSP benefit withdrawal by US will not have significant impact on India\'s exports\, says commerce secy

GSP benefit withdrawal by US will not have significant impact on India's exports, says commerce secy

Press Trust of India  |  New Delhi 

The US decision to withdraw duty benefits on Indian products under the (GSP) programme will not have a significant impact on exports to America, a top said Tuesday.

mainly exports raw materials and intermediate goods such as organic to the US, he said. The response comes after the said it intends to end the preferential trade status granted to

"withdrawal will not have a significant impact on India's exports to the US," the told reporters here.

The US demand for relaxation in norms for exports of medical devices and are non-negotiable to India.

US has said he intends to end the preferential trade status granted to India and Turkey, asserting that has failed to assure of "equitable and reasonable" access to its markets, an announcement that could be seen as a major setback to bilateral trade ties.

The has said that removing India from the programme would not take effect for at least 60 days after notifications to and the Indian government, and it will be enacted by a presidential proclamation.

As many as 1,900 Indian products from sectors such as and engineering get duty free access to the US market under the GSP, introduced in 1976.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 05 2019. 10:56 IST