India will work towards being export competitive: Piyush Goyal on US withdrawal of GSP
Union Minister of Commerce and Industries Piyush Goyal on Thursday said India accepts the withdrawal of Generalized Systems of Preference or duty-free benefits to its exporters, by the US and will work towards being export competitive.
“It has some impact, but India is almost moving out. India is no more an under-developed country who looks at only that type of support. We believe that India can be export competitive on its own strength,” he said here.
He also asserted that its withdrawal will have a minor impact on some sectors. The US government withdrew GSP benefits to India that came into effect from 5 May.
Earlier in the day, Goyal chaired a joint Meeting of Board of Trade and Council of Trade Development and Promotion.
Goyal held a day-long interaction with the industry and agriculture ministers of the states, industrialists, Export Promotion Councils, and representatives of the economic and infrastructure Ministries of the Central Government for boosting exports and domestic manufacturing and reducing the trade deficit.
Briefing media at the end of the meeting, Piyush Goyal said that ministries can no longer work in isolation for an effective outcome of government policy. (ANI)