US to reinstate GSP for India soon

The US and India are reportedly discussing a deal to allow the Trump administration to reinstate the Generalised System of Preference for India in exchange for certain market access commitments to America, a US Congressional report has informed the law makers.

The Generalised 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.