US export incentive: India's exported $6.3 bn worth of goods in 2018

New Delhi: India exported goods worth USD 6.3 billion to the US in 2018 under their export incentive programme, Parliament was informed on Friday.

The US has rolled back incentives under its Generalised System of Preferences (GSP) programme from June 5.

These concessions will no longer be available, he said.

He added that the impact of the withdrawal of the incentives will vary across products.

In a separate reply, he said some developed countries including the European Union (EU) provide unilateral tariff preferences on exports from developing countries/least developing country under their GSP Scheme.

India is a beneficiary of the GSP provided by Armenia, Australia, the European Union, Japan, Kazakhstan, New Zealand, Norway, Russia, Switzerland and Turkey.

“USA has terminated preferential tariff benefits being granted to India under its GSP,” he said.

In another reply, he said that the US did not accede to India’s request for withdrawal of duties imposed on certain steel and aluminium products.