In a major disciplinary action against India's trade and investment policies, Washington on Friday (local time) considered to withdraw the policy of zero tariffs on Indian exports to the United States.Khaleej Times quoted sources as saying that the Generalised System of Preferences (GSP), under which India enjoys tariff concession costing to USD 5.6 billion of exports to the US, has been the world's largest beneficiary of a scheme that has been in force since the 1970s.The move to withdraw the GSP program will mark a draconian action by Donald Trump-led US government to reduce the US deficit with large economies.President Trump has repeatedly called out India for its high tariffs.Indian Prime Minister Narendra Modi, many times, has advocated foreign investments in the country as a part of his 'Make in India' campaign to transform India into a manufacturing hub and generate employment to the youth.However, President Trump has pressed US manufacturing companies to return back home as ...
