India shall always uphold its national interest in bilateral trade : Govt.

Speed Post News Network

New Delhi : The United States of America (USA) has,  with effect from  June 5, 2019, withdrawn India’s Generalised System of Preferences (GSP) benefits. These are unilateral, non-reciprocal and non-discriminatory benefits extended by some developed countries to developing countries.

India as part of the bilateral trade discussions had offered resolution on significant US requests in an effort to find a mutually acceptable way forward. It is unfortunate that this did not find acceptance by the US. India, like the US and other nations, shall always uphold its national interest in these matters. “We have significant development imperatives and concerns and our people also aspire for better standards of living. This will remain the guiding factor in the Government’s approach,” said the Ministry of Commerce & Industry on June 1, 2019.

” In any relationship, in particular in the area of economic ties, there are ongoing issues which get resolved mutually from time to time. We view this issue as a part of this regular process and will continue to build on our strong ties with the US, both economic and people-to-people. We are confident that the two Nations will continue to work together intensively for further growing these ties in a mutually beneficial manner,” said the Ministry of Commerce & Industry, according to a PIB release.