Following the arguments and quarrels over the free trade between US and India,the US has said that the door is open if India is prepared to bring a serious proposal to the table to address the issues related to trade and market access.
The US in November last year revoked duty-free concessions on import of at least 50 Indian products, mostly from handloom and agriculture sectors, reflecting the Trump administration’s tough stand on trade-related issues with New Delhi.
Despite intensive engagement with the Government of India for nearly a year, India did not assure the US that it would provide equitable and reasonable access to its market, which led to its termination from the Generalised System of Preferences programme, the official said.
After a while,the Trump administration is willing to review its decision to revoke its GSP privileges to India, if New Delhi comes with a credible proposal to address the market access issues that America has been talking about for nearly a year.
During talks with India, America is believed to have said that “there are creative ways of solving” all the trade related issues that addressed concerns of both the countries.
While India argues that it is difficult to take any policy decision at this point of time because of the elections and the model code of conduct, American points out that it has decided to take its decision on revoking GSP privileges only after it exhausted all its options with India.The US hopes that India will submit a proper plan after the upcoming elections.