Indian government , Donald Trump ,India's 5.6 billion trade concessions ,Generalised System of Preference ,Akash Jindal,businessnews.
New Delhi: Expressing similar views with those of the Indian government over US President Donald Trump announcing that he would end India's 5.6 billion trade concessions under the Generalised System of Preference (GSP), an economist has said "it would not affect India much".
For the past two days, there have been statements from the US administration that it would stop giving India trade concessions under the GSP as "New Delhi does not provide Washington equitable and reasonable access to its market".
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Akash Jindal, Delhi-based economist, in a conversation with the ETV Bharat said if the US does what it has been saying in this regard, it would go against its interests.
"The US tried it with China and they have seen the consequences, now why they want to do it with a good like India," he said.
Jindal said India has allowed the US to work in various fields and the proposed action could ruin the trade relationship between the two countries.Earlier in the day, the Narendra Modi government downplayed the likely effects that the Trump decision could have and said it would not any Major impact on overall Indian exports to the US.
"Total GSP benefits availed by India under the GSP programme were to the tune of $190 million on a trade of $5.6 billion. So, the benefits both in an absolute sense, and as a percentage of the trade involved, are very minimal and moderate," Commerce secretary Anup Wadhawan told reporters.
The Trump administration has been emphasizing for some time to fix trade in US favor, and to do so it has announced various steps or at least has raised concerns in this regard.
