This week’s ‘Economy This Week’ segment brings to you all you need to know about the topic ‘Generalized System of Preferences (GSP)’. Economics is an important segment of the IAS exam and is also extensively linked to current affairs.
The US Government has announced that it would be withdrawing the GSP status given to Indian exports. There are over 1900 product lines which are exported from India to the US, which enjoy duty benefits under the GSP. Earlier, the US had announced the withdrawal of GSP status to 50 of Indian exports and now has notified complete withdrawal of the status.
What is GSP?
The following video discusses all the issues related to GSP:
Topics covered are:
- ABCs of GSP
- GSP – India and the US
- Why is the status being withdrawn
- The way forward
You can download the PPT of the video lecture from the link below:
For more business news videos and PDFs, keep visiting the ‘Economy This Week’ segment regularly.