gsp withdrawal by u.s. likely to affect india’s plastics exports: plexconcil - polyester film industry
Action taken by the United States (U. S. )
Termination of the designation of India as a beneficiary developing country under the universal preferential system (GSP)
A trade agency said the plan could affect plastic exports in India because it no longer meets the statutory eligibility criteria.
"At the plastics Export Promotion Commission (Plexconcil)
We analyzed and found that in the case of India, the United States gave preferential treatment to the general system. S.
During January to December 2018, tariffs on imported plastic products were reduced by $30 million a year, valued at $0. 6 billion, "said Ravish Kamath, chairman of the opportunity.
He said that some product departments that may face a decline in exports to the United StatesS.
Due to the cancellation of the plastics offer, including plastic raw materials, consumer goods and household items, and polyester film.
Sribash Dasmohapatra, executive director of plexcouncil, said, "We believe that the cancellation of GSP benefits will have a negative impact on the export of plexconil members --
We have asked the federal Department of Commerce to discuss with the US Department of Commerce. S.
Allow the continuation of the GSP or encourage exporters through other measures that they deem appropriate.
India, India and the United States have a trade surplus of 2018. S.
Reported bilateral trade (
Commodity only)worth $84.
9 billion, an increase of 20% over the previous year.
Trade is good for India, which reports a surplus of $17.
During 2018, 9 billion per cent decreased by 15 per cent. 1% from $21.
1 billion a year ago
India and some other countries are enjoying a trade surplus with the United States. S.
Without "equal access" to American goods in their respective countries, the US Trade Representative's office issued a press release on March 4 saying that the United States would terminate India's designated beneficiary developing countries under the GSP scheme, because it no longer meets the statutory eligibility criteria.
According to the GSP scheme, some products can enter the US market. S. duty-
If the beneficiary developing countries meet the eligibility criteria set by Congress, they are free of charge.
According to the United States Trade Representative (USTR), the total U. S.
In 2017, $21 was imported under the GSP.
India is the biggest beneficiary of $2 billion. 6 billion.