The United States Abolished The GSP Treatment In India. India Exported To The United States In June 2019, Still Growing 32%

India is the largest beneficiary country of the generalized preferential tariff system (GSP) in the United States. There are 1900 products exported to the United States to enjoy zero tariff preferences. To (2018) 6 billion 350 million of India's exports to the United States enjoy GSP treatment and the exemption amount is 190 million dollars, but the United States officially abolished the GSP treatment in India in June 5th (2019).

The Trade Promotion Council of India (TPCI), citing the statistics of the US International Trade Commission (ITC), pointed out that in June this year, India originally enjoyed GSP treatment. The total amount of products exported to the United States amounted to US $657 million, which was 32% higher than that of US $496 million in the same period last year. "Promotion"

TPCI chairman Mohit Singla said that this growth data has brought India US $161 million in revenue, almost offset the loss of GSP treatment. The main export growth items are plastic, rubber, metal, machinery and equipment, transport equipment, leather, jewelry and so on. Therefore, India products are globally competitive and do not rely on other countries' assistance. TPCI has always advocated that the India government should gradually eliminate subsidies and reduce subsidies to manufacturers.

Singla chairman said that the India government should aim at the emerging potential industries, such as furniture and electronics, to create a large industrial settlement system, so as to drive the comprehensive growth of exports. The era of labour intensive industries has passed, even if the government grants subsidies again, growth will still slow down.