Indian Minister Pushes U.S. Congress for GSP Renewal
India's Minister of Commerce, Industry, and Textiles has stressed the need to avoid protectionist tendencies by developed economies. Speaking to a delegation of the U.S. Congress and the German Bundestag, the Minister expressed confidence that the U.S. Generalized System of…
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Preferences (GSP) scheme, which expired in December 2010, may soon be revived with full and long term reauthorization. The Minister noted that the U.S.'s withdrawal of the GSP benefit for a number of products from India (e.g. jewelry) benefited major trading partners like China and France and not less developed countries.