Washington: There is tension in business relations. America is trying to strengthen its business relations with India. A senior US government official has said that India can be included back under the 'Generalized System of Preference' (GSP).
He said that America is currently talking to India in this regard. US Trade Representative Robert Leitzer told members of the Senate Finance Committee that, "We have not done it yet. But now we are talking about it. If we get a proper counter-proposal from India, we can restore it back." Before PM Modi's visit last year, 44 influential MPs of America had demanded Trump administration keep India in the GSP business program. The Trump administration excluded India from the 'Generalized System of Preference' (GSP) in June last year. Under the GSP, India used to get priority in trade with the US.
GSP is America's largest trade program, whose beneficiary countries were exempted from duty in the export of thousands of products in America. In a letter to US Trade Representative Robert Leitzer, MPs said that instead of hurrying, we must provide markets for American industries and there should be no small issues in this.
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