The India-US Trade Policy Forum (TPF), set up to resolve trade and investment issues between the two countries, will hold a meeting in Washington on January 11, 2023.
The status was terminated in June 2019 as the U.S. accused India of a wide array of market access barriers.
Before the termination of GSP India was the largest user of GSP. It benefited its textile exports and in 2017 the quantum of Indian exports under this program reached .
7 billion.
The US negotiators though promised India that the request would be considered in light of the eligibility criteria determined by the U.S. Congress. The GSP lapsed on Dec. 31, 2020, its renewal was delayed because the lawmakers failed to agree on whether to reauthorize the earlier GSP or expand its scope.
As the Republicans have gained an upper hand in the current congress after the US midterm elections the Democrats are not in a position to assert their GSP agenda.
The position on GSP approval, therefore, remains uncertain.
The TPF meeting also saw the two sides also discuss recent progress in addressing specific trade irritants (from India). This included trade barriers through restriction, compliance burden, and most of all intellectual property protections. Though details of targeted tariff reductions were also discussed during the talks, details in this regard have not been revealed. They exchanged views on “potential targeted tariff reductions,” though no further details were offered.
