mo4ch:>India refuses to compromise on ‘national interests’ for US trade benefits | Mo4ch News

India will not sacrifice its economic development for petty trade concessions, Ministry of Commerce stressed, after the US accused New Delhi of restricting access to its markets and annulled its preferential trade status.“India, as part of our bilateral trade discussions, had offered resolution on significant US requests in an effort to find a mutually acceptable way forward,” the ministry statement said. “It is unfortunate that this did not find acceptance by the US.”India... shall always uphold its national interest in these matters. We have significant development imperatives and concerns and our people also aspire for better standards of living. This will remain the guiding factor in the Government’s approach.Around $5.6 billion worth of Indian products have enjoyed duty-free access to the American market annually, under the Generalized System of Preferences (GSP) program. New Delhi was the world's largest beneficiary of such concessions designed for developing nations, until …