Part of: GS Prelims Polity–and GS-II- India’s Foreign Relations
In News:
A Trump Presidential trip to India has long been on the cards (he has visited India before on business trips) with a pending invitation from Prime Minister Narendra Modi.
From Prelims Point of view:
Generalized System of Preferences (GSP)
It is an umbrella that comprises the bulk of preferential schemes granted by industrialized nations to developing countries.
It involves reduced Most Favored Nations (MFN) Tariffs or duty-free entry of eligible products exported by beneficiary countries to the markets of donor countries.
