GSP benefit withdrawal by US will not have significant impact on India's exports, says commerce secy

The US decision to withdraw duty benefits on Indian products under the Generalized System of Preferences (GSP) programme will not have a significant impact on exports to America, a top government official said Tuesday.

India exports goods worth USD 5.6 billion under the GSP, and the duty benefit is only USD 190 million annually, Commerce Secretary Anup Wadhawan said.

India mainly exports raw materials and intermediate goods such as organic chemicals to the US, he said. The response comes after the US government said it intends to end the preferential trade status granted to India