Since Modi Government has come to power India has scaled to great heights both nationally as well as internationally. World has started seeing India from a different eye. Now India is not regarded as a ‘nation of snakes’ as shown by Congress but regarded as a superpower. World stands together with India
In another shot in the arm of PM Modi Government, 25 influential American lawmakers have come in favour of India.25 US Congressmen have warned Trump led Government not to terminate the GSP program with India after the expiry of the 60-day notice, saying the country’s companies seeking to expand their exports to India could be affected
The Generalized System of Preference (GSP) is the largest and oldest US trade preference program and is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries. One month before President Donald Trump announced that the US intends to terminate India’s designations as a beneficiary developing country under the GSP program. The 60-day notice period ended yesterday. But US Congressmen have come in support of India and warned US govt not to end the preferential trade benefit to India, as it’ll hurt American firms
American companies that rely on duty free treatment for India under the GSP will have to pay hundreds of millions of dollars annually in new taxes. Apart from the trade issues that US will face, citizens working in these American firms would face salary loss, benefit loss and might lose their jobs as well. The Congressmen also brought out the point that India was going through the election process, and hence it is difficult for the government to immediately respond on the US notice. The 25 law makers asked the Trump government to provide some more time to the Indian Government for providing a proper response, once the new government comes in power.
“It would be a step back, not forward. Continuing negotiations is the only way to gain new markets access for US exports to India” said the letter written by these lawmakers.
This clearly shows where today India has reached under PM Modi. All nations understand the importance of India. They know spoiling relation with India will not be good for them. It is a big diplomatic victory for India. The diplomatic victory of India is clearly visible in the US Senate. This is a tight slap on the face of all those who question PM Modi on his frequent foreign visits. This is only the result of his foreign visits and his dedicated efforts