NEW DELHI: Days after america announced its decision to finish preferential industry status for India, the exterior affairs ministry on Thursday stated efforts are directly to resolve the industry problems between the 2 nations.
"There has been discussions within the government as well as with the US to resolve the issue," ministry of exterior affairs (MEA) spokesperson Raveesh Kumar stated at a media briefing.
"These kind of issues come up and they are resolved mutually as well," he added.
Last week, President Donald Trump terminated India's designation as a beneficiary from June five, finishing the rustic's $five.6 billion industry concessions below the key GSP programme.
The Generalized System of Preference (GSP) is the largest and oldest US industry preference programme and is designed to advertise financial building through allowing duty-free entry for hundreds of products from designated beneficiary nations.
In its response, the commerce ministry stated that in any relationship, particularly within the area of economic ties, there are problems which get resolved mutually.
India was the largest beneficiary of the GSP programme in 2017 with $five.7 billion in imports to america given duty-free status, according to a Congressional Research Service document printed in January.
"There has been discussions within the government as well as with the US to resolve the issue," ministry of exterior affairs (MEA) spokesperson Raveesh Kumar stated at a media briefing.
"These kind of issues come up and they are resolved mutually as well," he added.
Last week, President Donald Trump terminated India's designation as a beneficiary from June five, finishing the rustic's $five.6 billion industry concessions below the key GSP programme.
The Generalized System of Preference (GSP) is the largest and oldest US industry preference programme and is designed to advertise financial building through allowing duty-free entry for hundreds of products from designated beneficiary nations.
In its response, the commerce ministry stated that in any relationship, particularly within the area of economic ties, there are problems which get resolved mutually.
India was the largest beneficiary of the GSP programme in 2017 with $five.7 billion in imports to america given duty-free status, according to a Congressional Research Service document printed in January.
Discussions with US under way to resolve trade issues: India
![Discussions with US under way to resolve trade issues: India]()
Reviewed by Kailash
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June 06, 2019
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