Mumbai: India has sought continuation of the
generalised system of preferences (GSP) for its exports
to the United States.
The government has submitted a detailed petition to
the US seeking continuation of preferential trade access
to the US market, minister of state for commerce Jairam
Ramesh informed the Rajya Sabha in a written reply.
The US, in its annual trade review, had invited written
comments from 13 beneficiary countries, including India,
as to whether it should limit, suspend or withdraw the
trade benefits to them under the GSP scheme
the $18.8 billion worth of US imports from India in
2005, $4.17 billion were duty free under the GSP programme.
with annual GSP utilisation levels above $100 million
are upper middle income economies, as per the World
Bank norms, or those countries accounting for over 0.25
per cent of global merchandise exports in 2005, have
been taken up for the current review, he said.