News & Views

Another sad loss for “India in global market”, major set-back!

By: Shamoon Rasool

US President Donald Trump has announced plans to end special trade treatment for India, while accusing them of unfairly shutting out US businesses. It is a huge set back for India after an ongoing war speculations and its unfair attitude towards increasing war speeches and for not promoting peace and dialogues. CNN reported on Tuesday.
Trump wrote a letter to the US Congress on Monday, signaling his intent to remove India from the Generalised System of Preferences (GSP) – a programme that provides developing countries an ease of access in doing businesses in US market.

For 121 countries the GSP lower duties on exports to the US market. According to CNN reports, India was the biggest beneficiary of the program in 2017.

CNN quoted the letter as briefing that “India has not provided assurance of providing us (United States) reasonable access to the Indian market.

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