As President Donald Trump showed the intention of the United States to withdraw the Generalised System of Preferences, popularly referred to as GSP, from India, IAS EXPRESS takes a look at the programme, its benefits and what it means now that it may be revoked.
India’s participation in the mega-trade agreement, Regional Comprehensive Economic Partnership (RCEP) has long been debated and sentiments around the subject are quite divided and divergent. Critics warned that India must exercise caution before signing RCEP which goes far beyond trade liberalisation to impose a common set of rules on investment and IPRs.
Recently, the Ministry of Commerce & Industry reviewed and amended the Foreign Direct Investment (FDI) Policy in e-commerce in order to ensure a level playing field between offline and online sectors. E-commerce firms are needed to comply with the new guidelines by February 1, 2019.