Recently a trade official of USA has said that USA is mulling to restore GSP status to India after getting a counter balancing proposal from India. The GSP status for India was withdrawn by USA last year , The Generalized System of Preference is a preferential trade program by which thousand of products from beneficiary countries are granted duty free access. This news is related to the topic, Effect of policies and politics of developed and developing countries on India’s interests, Indian diaspora of GS 2. Details about GSP can be important for prelims, whereas importance of US-India trade relations can be important for mains.
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