US desire to restore duty benefits to Indian exporters, sun-ray for Indian Aluminium Industry
The US has shown a desire to restore the duty benefits to Indian exporters under its Generalised System of Preferences if it receives a competent counter-offer from the Government of India.
The officials of the Ministry of Commerce were closed-lipped on the kind of quid-pro-quo concession India Government would offer. However, they said the removal of the GSP benefits had a marginal impact on Indian exporters.
The US-India relationship will stand stronger than before as the restoration of the benefits will be an added value.
Robert Lighthizer, US Trade Representative, communicated to the US Senate Finance Committee: “We are in negotiations with India, we took away their GSP, and we’re in the process of restoring it if we can get an adequate counterbalancing proposal from them.”
Lighthizer also said. “Till now, we haven’t done that. But this is something that we’re actively negotiating right now,”
There are strong indications that the US could lower tariffs on aluminium and India could reciprocate by abolishing the retaliatory tariff it imposed on apples and almonds. It could offer some concession on high-end mobiles and relief on duties imposed on Harley Davidson bikes.
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