Under the Generalised System of Preferences , India enjoys zero tariffs on $5.6 billion of exports to the US. ShutterstockAmid growing trade tension between India and the US, there is a worry lurking that Washington may withdraw the facility of Generalised System of Preferences (GSP) on more items. Under the GSP, India enjoys zero tariffs on $5.6 billion of exports to the US. The US is also unhappy with India imposing import duties on smartphones and some other electronic and telecom equipment. Next week’s meeting assumes importance in the wake of the US concern about its trade deficit with India.

Source: The Telegraph February 08, 2019 19:30 UTC