more-inChennai-based TCP Ltd, which produces inorganic chemicals, has called for the restoration of Generalised System of Preferences (GSP) benefits, which enables duty-free access to the U.S. market. Nearly 3,500 Indian products from sectors such as chemicals and engineering get duty-free access to the U.S. market under the GSP, introduced in 1976. The U.S. is reviewing India’s eligibility under GSP and its sub-committee would hold a hearing on June 19 on the issue. India and the U.S. have a very strong, longstanding and cordial trade relationship and we expect the U.S. government to support more Indian products in the U.S. market, TCP said. TCP is among the 60 small and medium businesses that have submitted their comments to the GSP sub-committee seeking continuation of GSP benefits.

Source: The Hindu June 15, 2018 19:07 UTC