Unfortunate India as Trump ends preferential trade status

first_imgNew Delhi: India on Saturday said that it will continue to work with the USA to strengthen economic ties in the wake of America’s decision to withdraw export benefits under a programme. The USA has said that with effect from June 5, it will withdraw incentives to Indian exporters provided under its Generalized System of Preferences (GSP) programme.In a statement, the commerce ministry said that in any relationship, particularly 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 USA, 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,” it said. Also Read – Dussehra with a ‘green’ twistIt said that the GSP benefits given by developed countries like the USA to developing nations such as India are “unilateral, non reciprocal and non discriminatory”. The US’ decision came following complaints by its medical devices and dairy industries, which have alleged that India did not provide equal market access to their products. The medical devices players have also raised objections over price caps put by India on products like stents. The ministry said that India, as part of its bilateral discussions with US officials, 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,” it added. Also Read – India receives its first Rafale fighter jet from FranceHowever, it said that India, like other nations, shall always uphold its national interests in these matters. “We have significant developments imperatives and concerns and our people aspire for better standards of living. This will remain the guiding factor in the government’s approach,” it said. As many as 1,900 Indian products from sectors such as chemicals and engineering get duty free access to the US market under the GSP, introduced in 1976. The US’ demand for relaxation in norms for exports of medical devices and dairy products are non-negotiable for India.last_img read more

Liverpool beats Burnley 31 to stay on Man Citys coat tails

Manchester City just cannot shrug off Liverpool in what is looking increasingly like a two-horse race for the Premier League title.Three days after scoring an injury-time winner in the local derby against Everton, Liverpool came from behind to beat Burnley 3-1 and move back to within two points of the defending champions.Fewer and fewer sides look capable of keeping touch with the unbeaten top two.Chelsea lost for the second time in three matches, squandering an early lead in a surprise 2-1 defeat at Wolverhampton Wanderers.That allowed Tottenham to climb into third place — six points behind Liverpool — after a 3-1 win over Southampton.Manchester United dropped Paul Pogba and was held to a 2-2 draw with Arsenal in a bruising match at Old Trafford.After 15 games, United is already 18 points behind City.The other two matches finished in 1-1 draws between Fulham and Leicester, and Everton and Newcastle.___More AP soccer: https://apnews.com/apf-Soccer and https://twitter.com/AP_Sports___Steve Douglas is at www.twitter.com/sdouglas80Steve Douglas, The Associated Press read more