New Delhi: India has made it clear that it is not in the interest of the United States ' generalised System of Prefences (GSP) and has the potential to make its exports competitive. Commerce and Industry minister Piyush Goyal has said that India will no longer focus on this kind of preferential arrangement and strive to make its exports competitive.

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It may be noted that last week, US president Donald Trump announced the removal of India's name from the GSP special trade programme. It has been effective from June 5. The US had said that India had not convinced it to reach its market on a par and rationality basis. India had termed the US move as "unfortunate". The abolition of GSP in the United States meant that India would now have a government tax on all the products it would sell in the United States. So far, India exports some products without taxes.

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The U.S. move is believed to be a blow in terms of bilateral relations. According to a report, more than 1800 small-scale products from sectors such as chemicals and engineering in India received GSP benefits. India was among the largest GSP benefits and exported a product of 6.35 billion (about 44 thousand crore rupees) to the United States last year.