The second tenure of the Modi government has started on a turbulent note on the trade front. To quite an extent it was expected. Going forward, more problems can be expected.
As soon as the new government took over, the United States withdrew the tariff concessions for Indian origin goods under the Generalised System of Preferences (GSP) with effect from June 5. It came as no surprise, as the Trump administration had served a notice of its intention to do so in April itself. Even so, any hopes that some kind of compromise may be worked out evaporated when the withdrawal
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