(FE)
India is pushing for a complete restoration of duty-free export benefits under the so-called Generalised System of Preferences (GSP) by the Trump administration, and not just a partial relief as indicated by the US earlier, as the two sides are in an advanced stage of hammering out broad contours of a limited trade deal. Commerce and industry minister Piyush Goyal is in the US to hold talks with US Trade Representative Robert E. Lighthizer later on Wednesday (Washington time).
The limited deal could cover India’s willingness to extend greater market access in agriculture and also sweeten its initial offer on easing price caps in medical equipment, especially stents, a source told. India is considering loosening its price control regime for medical devices and applying trade margin on coronary stents and knee implants at the first point of sale (price to stockiest), instead of imposing it on the landed prices, as was planned initially.
