US withdrawal of India’s preferential trade treatment wouldn't lead to trade hurdles
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India hopes the planned withdrawal by the United States of a preferential trade treatment to India would not lead to trade hurdles, an Indian government source said on Tuesday, adding that the "actual benefit" to India was only $250 million a year.
"GSP (Generalized System of Preferences) is more symbolic of the strategic relationship not in value terms," the source said, declining to be named ahead of a press briefing by the Indian trade ministry. U.S. President Donald Trump said on Monday he intended to end India’s preferential trade treatment under a program that allows $5.6 billion worth of Indian exports to enter the United States duty-free.
(With inputs from agencies.)
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