Home / Knowledge / News / Apparel/Garments / Door open for India for serious trade proposal: US

Door open for India for serious trade proposal: US

26
Mar '19
Door open for India for serious trade proposal: US
Noting trade to be an area of frustration in ties, the United States recently said the door is open if India is prepared to put forward a serious proposal to address trade and market access issues. It has struggled with regulatory issues that hinder ease of doing business and market access for US companies and products, a top State Department official said.

The United States in November last year revoked duty-free concessions on import of at least 50 Indian products, mostly from handloom and agriculture sectors.

Despite intensive engagement with New Delhi for about a year, India did not assure that it would provide equitable and reasonable access to its market, which led to its termination from the generalised system of preferences programme, a news agency reported quoting the senior US official.

While the growing US exports to India, largely crude oil and LNG, led to a 7.1 per cent reduction in bilateral goods trade deficit last year, many structural challenges in the trade relationship are yet to be resolved, he said.

While India argues that it is difficult to take any policy decision now because of pre-poll model code of conduct, US diplomats reportedly point out that the United States has decided on revoking GSP privileges only after exhausting all its options with India.

The US still hopes that the issue can still be resolved before the Indian elections and certainly after that. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 4th Aug 2020

India widens scope of credit guarantee scheme for MSMEs

India last week widened the scope of the ₹3-lakh crore credit...

Pic: IndianOil

Textiles | On 4th Aug 2020

IndianOil to set up ₹13,805 cr PX-PTA complex at Paradip

The board of Indian Oil Corporation Ltd (commonly known as IndianOil) ...

Pic: Shutterstock

Apparel/Garments | On 4th Aug 2020

EVFTA fabric origin rule a challenge for Vietnamese firms

Despite the European Union (EU)-Vietnam Free Trade Agreement (EVFTA), ...

Interviews View All

Milind Khandwe, Hindoostan Innovation Centre

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

C Kamatchisundaram, Voltas

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Textile Industry, Head honchos

Textile Industry
Head honchos

Increased need for online fitting solutions as retailers shift to...

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Vikas Banduke,

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search