Generalized System of Preferences (GSPs) Subject : International relations Section : International organisation Context: India seeks restoration of GSP status withdrawn under Trump administration. India was the largest beneficiary of the Generalized System of Preferences (GSP) status in 2017, with $5.7 billion worth of imports into the US given duty-free status. About 2,000 […]

    Generalized System of Preferences (GSPs) Subject: Economy Section: National Income Context: The Centre may engage with the industry to assess the impact of the European Union’s decision to withdraw preferential tariff benefits for certain products from India, including electrical machinery, plastics, articles of stones and articles of leather, from January 2023 Details: Under the […]

    Generalized System of Preferences (GSPs) Subject : International Relations Context : Recently, the European Union (EU) Parliament has adopted a resolution which has urged the EU Commission to consider temporary withdrawal of the GSP+ status given to Sri Lanka. Concept : About Generalized System of Preferences (GSPs) It was instituted in 1971 under […]