bilateral trade: GK, Current Affairs, Questions, Trivia and News

India not eligible for US’ GSP benefits

The United States Trade Representative’s (USTR’s) office has recently classified India as a developed economy and it is ineligible for GSP benefits from the US. The Generalized System of Preferences (GSP) scheme offers a lower tariff to the exporters of a select group of developing countries. India is the largest beneficiary nation under the GSP, which enjoyed ..

Trade Deficit with China declines Marginally in 2019

As India’s biggest single or bilateral trade deficit is with China over the last few decades which reached USD 58.04 billion in 2018, The Vice Minister of General Administration of Customs of China, Zou Zhiwu informed that the Indian marine products export to China has seen a ten-fold growth since the Wuhan Summit in April ..

What is GSP in the United States of America?

The United States of America’s Generalized System of Preferences (GSP) is the oldest and largest trade preference program established under the Trade Act of 1974 by the US government. The GSP promotes economic development by eliminating certain import duties on thousands of products imported from any of the beneficiary countries under the US’s Generalized system ..

India-Sweden to sign their First Maritime Cooperation Agreement

India and Sweden are expected to sign the agreement for Cooperation in Polar Science during the Swedish Royal Couple, King Carl XVI Gustaf and Queen Silvia, along with their senior minister’s five-day visit to India starting today, December 2, 2019. This marks the third visit to India of the Swedish King, first was in 1993 ..

Prime Minister announces USD 450 million Line of Credit to SriLanka

Making his first overseas visit as the newly elected SriLankan President, Gotabaya Rajapaksa, arrived in New Delhi yesterday on a three-day visit to India, met the Indian Prime Minister Narendra Modi and President Ram Nath Kovind today, November 29, 2019. After a fruitful meeting with the SriLankan President, Prime Minister Narendra Modi had announced a ..

India-Uzbekistan sign Agreement on Security Cooperation

Uzbekistan’s delegation led by their Minister of Internal Affairs, Mr. Pulat Bobojonov met Indian delegation led by Union Minister for Home Affairs, Amit Shah in New Delhi during their bilateral visit to India from 20-23 November 2019. A security Cooperation agreement was signed by the two Ministers in the diverse fields including counter-terrorism, human trafficking, ..