US export incentive: India’s exported $6.3 bn worth of goods in 2018
Team Udayavani, Jun 21, 2019, 5:04 PM IST
New Delhi: India exported goods worth USD 6.3 billion to the US in 2018 under their export incentive programme, Parliament was informed on Friday.
The US has rolled back incentives under its Generalised System of Preferences (GSP) programme from June 5.
These concessions will no longer be available, he said.
He added that the impact of the withdrawal of the incentives will vary across products.
In a separate reply, he said some developed countries including the European Union (EU) provide unilateral tariff preferences on exports from developing countries/least developing country under their GSP Scheme.
India is a beneficiary of the GSP provided by Armenia, Australia, the European Union, Japan, Kazakhstan, New Zealand, Norway, Russia, Switzerland and Turkey.
“USA has terminated preferential tariff benefits being granted to India under its GSP,” he said.
In another reply, he said that the US did not accede to India’s request for withdrawal of duties imposed on certain steel and aluminium products.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Stock markets stage strong rebound after 4 days of slump, Sensex rallies 599 pts
PHF Leasing Limited raises $10 Mn through a mix of equity and debt
CCPA asks FSSAI to probe claim of Nestle adding sugar to baby products
Markets tank in early trade as Middle East tensions flare-up
Tesla shares tumble below $150 per share, giving up all gains made over the past year
MUST WATCH
Latest Additions
Injuries don’t define you: Mohammed Shami shares rehab update
Shivakumar desperately wants to become CM, says K’taka BJP chief Vijayendra
Scribe throws lapel microphone towards Sharad Pawar in Baramati; cops give clean chit
India delivers first batch of BrahMos missiles to Philippines
Air India cancels Dubai flights due to operational disruptions