Related Keywords: benefit exporters of textiles, duty free entry, extension for generalised systm of preference, Federation of Indian Export Organisations, from US government, increase the quantum of exports, Indian exprters, into US market, product lines
Indian exporters, after an 18 months prolonged wait finally gets extension for generalised system of preference (GSP) from the US government on Tuesday. The US government has renewed GSP benefits for Indian exporters, retrospectively from August 2013 till December 2017, enabling duty-free entry of 3,500 product lines which exported in July 2013.
The move is expected to benefit exporters of textiles, engineering, gems and jewellery, and chemical products, among others, as their biggest market is the US. It is likely to increase the quantum of exports into the US markets.
