TaxTMI 
TaxTMI 
Impact of Withdrawal of GSP
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....mpact of Withdrawal of GSP <br>News and Press Release<br>Dated:- 13-12-2019<br><BR>The benefits under the GSP scheme were withdrawn for India by U.S. from 5th June 2019. In 2018, India exported goods....
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.... worth of USD 6.3 billion (as per USTR figures) to U.S. under the GSP programme, which was about 12.1% of India's total exports to the U.S. The average duty concessions accruing on account of GSP were....
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.... about USD 240 million in 2018, which was about 3.8% of India's exports to the U.S. availing the GSP benefits. The impact varies across products, depending on the individual product level concessions....
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.... which were availed under the GSP. However, so far the cumulative exports under the GSP tariff lines have not declined in the post GSP withdrawal period (June - Oct 2019) as compared to the correspond....
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....ing period of the previous year. Trade related issues are a part of ongoing economic relationship, and will continue to be discussed and addressed as a part of the regular bilateral trade engagement ....
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....between India and the US. This information was given by the Minister of Commerce and Industry, Piyush Goyal, in a written reply in the Rajya Sabha today.<BR> News - Press release - PIB....