Gsp

India should not push US for GSP benefits as gains are marginal: GTRI

India should accept the withdrawal of benefits under the US generalised system of preferences (GSP) scheme and avoid pushing for its reinstatement as the benefits for domestic exporters were marginal, think tank GTRI said on Monday. It also suggested that India should not seeks the resumption of the scheme in the upcoming India-US Commercial Dialogue on October 2. Commerce and Industry Minister Piyush Goyal is visiting Washington for the dialogue. He will co-chair the meeting with US Secretary of Commerce Gina Raimondo with participation from industries, startups, and SMEs from both countries. The scheme, it added, is primarily designed for low-income countries, with even major economies like China excluded. As a growing economic power, India should focus on broader, more strategic trade discussions rather than seeking concessions on relatively insignificant issues, it said. GTRI Founder Ajay Srivastava said the primary aim of the dialogue is to strengthen the bilateral commercial

Rodtep, personal computer imports on table at India-US trade policy forum

Trade policy meet may also take up issues like GSP, non-tariff barriers

GSP Crop Science eyes Rs 1,800 cr revenue in FY25; 6-7% mkt share in 4 yrs

Agrochemicals manufacturer GSP Crop Science is eyeing Rs 1,800 crore in revenue in 2024-25, following its domestic as well as overseas market expansion, a top company executive has said. "In 2022-23, our annual revenue was at Rs 1,600 crore. We are looking at Rs 1,800 crore revenue in FY25. Overall our target is to reach Rs 2,500 crore in next 3-4 years with the addition of overseas business especially in Brazil," GSP Crop Science Managing Director Bhavesh Shah told PTI. Shah said the company is working towards reducing its dependency on China for raw materials and planning to produce intermediaries needed to develop crop solution products. "In order to reduce our raw material dependency on China, we are planning to gradually produce intermediaries needed for manufacturing our products. We are setting up our third manufacturing unit in Dahej in Gujarat with an investment of Rs 100-110 crores. In this unit we will initially produce 4 intermediaries," he added. The company is focusin

India-US Trade Policy Forum meeting expected soon, says Piyush Goyal

Asserts Indian exports not impacted by GSP, says India looking to have very contemporary and modern digital laws, while maintaining high levels of data privacy

India ready to sign limited trade deal with US anytime, says Piyush Goyal

The US has signed a mini trade deal with the European Union, but it is yet to respond to India's request

Waiting for a fair deal proposal to restore India's GSP status: US official

The top trade official from the Trump Administration says the US is currently in a big trade negotiations with India

As standoff persists, a US-India trade deal is unlikely during Trump visit

With deadlock persisting on a host of issues, US-India trade deal is uncertain

India is a developed economy and ineligible for GSP benefits: US

GSP is America's oldest preferential trade scheme, which offered Indian exporters tariff-free access to the US until June, when all benefits were suspended

US working on a deal to reinstate GSP for India: Congress report

In June, the US terminated India's designation as a beneficiary developing nation under the key GSP trade programme

US lawmakers urge Trump administration to reinstate GSP for India

In the letter, the lawmakers said that they have a strong desire to see GSP eligibility for India reinstated

GSP withdrawal: Plastic exporters explore new markets to keep ball rolling

Eye huge markets in CIS nations, Africa and Latin America, where Indian exports have a negligible presence

GSP roll-back: Exports of goods under tariff system to US up 32%

Exports of Indian goods, which were enjoying benefits under the preferential tariff system GSP, to the US registered a growth of 32 per cent in June, according to Trade Promotion Council of India (TPCI). The US rolled back export benefits to over 1,900 Indian goods from June 5. These incentives were provided by America under its Generalised System of Preference (GSP) programme. Citing the data from the United States International Trade Commission (USITC), it said the Indian exports to the US of those goods which were getting GSP benefits stood at USD 657.42 million in June as compared to USD 495.67 million in the same period last year. "India's exports to the US on GSP withdrawn products has registered 32 per cent growth in June 2019 as compared to the same month last year," TPCI Chairman Mohit Singla said in a statement. This is a very interesting trend as out of USD 190 million value of GSP benefit claimed earlier, the growth has already covered USD 161.74 million, month on mon

India won't compromise national interest in trade talks with US: Goyal

Piyush Goyal said "we believe" that the US decision of withdrawing GSP (Generalised System of Preferences) benefits "is not exactly as per the norms of WTO and GATT which are multilateral agreements"

GSP fallout

Govt must seek to restore competitive edge of exports