The government should collaborate with the US Congress. UU To solve the problem of the withdrawal of the SGP: TPCI
New Delhi, July 1 () The government must actively participate with the US Congress. UU To solve the problem of withdrawal of export incentives for Indian exporters, the TPCI said on Monday.
The lawsuit arises as a result of the decision of EE. UU To revert the export incentives provided under the Generalized System of Preferences (GSP) from June 5.
The president of the Indian Trade Promotion Council (TPCI), Mohit Singla, said that, given that EE. UU It is an important business partner of India, the reduction of incentives under the GSP program should be reviewed.
He asked the government to commit to the United States Congress on the issue of withdrawal of incentives, which is in the interest of both countries.
We are receiving strong contributions from the industry from our US merchants. UU For the problem to be taken to the US Congress. UU., He said in a statement.
The reduction of GSP benefits would not make any economic sense for the US. US, because it would hurt its industry more than India, he added.
Previously, several members of the US Congress. UU And companies had urged the Donald Trump administration not to withdraw GSP benefits to India, as the measure would increase input costs for US producers. India in 2018 exported goods worth around USD 6 billion under the GSP program. RR ANU ANU