India’s large market, economic progress, booming industrialisation have always been essential for many US exporters. However, according to US, many of the policies of India are “trade restrictive” for which the Trump administration terminated India's eligibility under the Generalized System of Preferences program in June’19. Under this programme, certain products can enter the US duty-free if the beneficiary countries meet the eligibility criteria established by its Congress.
In its report, the Joe Biden administration said following this suspension, India and the US worked towards creating a package and this continued throughout 2020. Resolution of non-tariff barriers, intellectual property (IP) protection and enforcement, policy development affecting electronic commerce and digital trade, market access for agricultural and non-agricultural goods and services etc. have been the part of the negotiation journey.
According to India, the obstruction in the smooth trade process will get resolved mutually from time to time.
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