Sakshi Batra is in conversation with Gaurav Choudhury to find out what's next for India.
On March 5, the US decided to withdraw import duty benefits, which was in the range of 1-6 percent, under its Generalized System of Preferences (GSP) programme.
The GSP programme provides non-reciprocal, duty-free imports of certain products from certain developing countries. Currently, about 121 developing countries including India, Brazil, Afghanistan and Botswana are availing these benefits.
The decision could impact India's exports worth USD 5.6 billion under this scheme. Removal of the benefits would result in imposition of duties by the US on these 2,000 products, making them uncompetitive in the American market in terms of pricing.
Sakshi Batra is in conversation with Gaurav Choudhury to find out what's next for India.Watch the video for moreGet access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.