logo

CuriousTab

CuriousTab

Discussion


Home Current Affairs Economy See What Others Are Saying!
  • Question
  • Under which provision did the U.S. revoke the duty free imports on 50 Indian products?


  • Options
  • A. Generalised Goods and Products System (GPS)
  • B. Goods and Services Tax (GST)
  • C. Generalised System of Preferences (GSP)
  • D. Goods and Preferred Supplies (GPS)

  • Correct Answer
  • Generalised System of Preferences (GSP) 

    Explanation
    The U.S. revoked duty-free concessions on the import of at least 50 Indian products, mostly from handloom and agriculture sectors. The revocation is to reflect the Trump administration's tough stand on trade-related issues with New Delhi. The Federal Register issued a notification, listing 90 products which were so far subject to duty-free provisions under the Generalised System of Preferences (GSP), an oldest and largest U.S. trade preference programme. The GSP is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary-countries. A count of these products indicated that at least 50 of them are from India. Notably, India is the largest beneficiary of the GSP.

  • More questions

    • 1. Which country attends OIC Meet for 1st Time in Abu Dhabi?

    • Options
    • A. Brazil
    • B. Germany
    • C. Singapore
    • D. India
    • Discuss
    • 2. Name the world's rarest giant softshell turtle that passed away in Suzhou Zoo,China.

    • Options
    • A. Yangtze
    • B. Iberian
    • C. Coahuilan
    • D. Alpaca
    • Discuss
    • 3. Name the initiative launched by Microsoft to preserve traditional weaving forms in India.

    • Options
    • A. Weavedraft
    • B. WeaveIt
    • C. Antaran
    • D. ReWeave
    • Discuss
    • 4. Recently with which state governemet Renault Nissan settles tax dispute?

    • Options
    • A. Tamil Nadu
    • B. Kerala
    • C. Andra Pradesh
    • D. Haryana
    • Discuss
    • 5. Name the author of the book titled 'The Ocean at the End of the Lane' who was recently appointed as UNHCR Goodwill Ambassador.

    • Options
    • A. Salman Rushdie
    • B. Douglas Adams
    • C. Julian Barnes
    • D. Neil Gaiman
    • Discuss
    • 6. The book "The man who could never say No" has been authored by whom?

    • Options
    • A. N N Saxena
    • B. Vikram Seth
    • C. S Muthiah
    • D. Gopalkrishna Gandhi
    • Discuss
    • 7. Which movie has won the Best Film award in the 64th National Awards-2017?

    • Options
    • A. Rustom
    • B. Ventilator
    • C. Kasaav
    • D. Neerja
    • Discuss
    • 8. Which of the following initiation of the Rotary Club of Madras North provides sanitary napkins to the students?

    • Options
    • A. Project Suvidha
    • B. Project Puthuyugam
    • C. Project Sangini
    • D. Project Kannamma
    • Discuss
    • 9. Which team won the Women's World Twenty20 title?

    • Options
    • A. West Indies
    • B. Australia
    • C. England
    • D. New Zealand
    • Discuss
    • 10. With whom Indian Army signed an MoU to build tunnels on China, Pakistan borders?

    • Options
    • A. NTPC
    • B. ONGC
    • C. NHPC
    • D. THDC Ltd
    • Discuss


    Comments

    There are no comments.

Enter a new Comment