The EU decided to suspend the practices of GSP for India's exports of textiles, Chemicals, minerals, leather products and motor vehicles, this decision will come into effect from next January. Other preferential is exempted from import duties on products including bicycle ships, aircraft, spacecraft, etc. If the European Union put an end to the low tariffs, India's exporters will be forced to pay an extra 6-12% of goods value, to make their products more expensive. The EU hopes to have the dominant developing countries out of the GSP degrees, and focus on the needs of the underdeveloped country. India's textile exports were excluded because of its exports more than 14.5% of the total imports from the EU textiles.
Written by Dora Men
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