India says preferential trade arrangement with U.S. more symbolic than high value: source
Tue Mar 05 2019
Mark Cooper (2113 articles)

India says preferential trade arrangement with U.S. more symbolic than high value: source

 India hopes the planned withdrawal by the United States of a preferential trade treatment to India would not lead to trade hurdles, an Indian government source said on Tuesday, adding that the “actual benefit” to India was only $ 250 million a year.

“GSP (Generalized System of Preferences) is more symbolic of the strategic relationship not in value terms,” the source said, declining to be named ahead of a press briefing by the Indian trade ministry.

U.S. President Donald Trump said on Monday he intended to end India’s preferential trade treatment under a program that allows $ 5.6 billion worth of Indian exports to enter the United States duty free.

Mark Cooper

Mark Cooper

Mark Cooper is Political / Stock Market Correspondent. He has been covering Global Stock Markets for more than 6 years.

Discussion

Rules of Discussion on Live Index

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.