The Generalized System of Preferences (GSP) is a valuable tool in strengthening U.S.-India trade relations. GSP can play a pivotal role in elevating the strategic partnership between both the countries. Analyse.
Kartavya Desk Staff
Topic: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.
Topic: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.
4. The Generalized System of Preferences (GSP) is a valuable tool in strengthening U.S.-India trade relations. GSP can play a pivotal role in elevating the strategic partnership between both the countries. Analyse. (250 words)
Difficulty level: Tough
Reference: The Hindu
Why the question: The article emphasizes the importance of renewing the Generalized System of Preferences (GSP) for strengthening U.S.-India trade relations. Key Demand of the question: To write about the scope of India–United States (US) relations – in trade and role of GSP in doing so. Directive word: Analyse – When asked to analyse, you must examine methodically the structure or nature of the topic by separating it into component parts and present them in a summary. Structure of the answer: Introduction: Begin by giving context regarding the growth of the India-U.S relationship in the recent past. Body: In the first part, write about the US as India’s most comprehensive strategic partner, and cooperation between the two extends across multiple areas such as trade, defense, multilateralism, intelligence, cyberspace, civil nuclear energy, education, and healthcare. Next, write about the role of GSP – offering duty-free entry for many Indian products into the U.S. market. This boosts Indian exports, supports SMEs, and strengthens bilateral trade, particularly in strategic sectors like textiles and agriculture etc. Write about the various bottlenecks in renewing GSP. Conclusion: Conclude by writing a way forward.
Why the question:
The article emphasizes the importance of renewing the Generalized System of Preferences (GSP) for strengthening U.S.-India trade relations.
Key Demand of the question:
To write about the scope of India–United States (US) relations – in trade and role of GSP in doing so.
Directive word:
Analyse – When asked to analyse, you must examine methodically the structure or nature of the topic by separating it into component parts and present them in a summary.
Structure of the answer:
Introduction:
Begin by giving context regarding the growth of the India-U.S relationship in the recent past.
In the first part, write about the US as India’s most comprehensive strategic partner, and cooperation between the two extends across multiple areas such as trade, defense, multilateralism, intelligence, cyberspace, civil nuclear energy, education, and healthcare.
Next, write about the role of GSP – offering duty-free entry for many Indian products into the U.S. market. This boosts Indian exports, supports SMEs, and strengthens bilateral trade, particularly in strategic sectors like textiles and agriculture etc. Write about the various bottlenecks in renewing GSP.
Conclusion:
Conclude by writing a way forward.