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Why is Generalized System of Preferences ( GSP ) important?
The Generalized System of Preferences or the GSP is a preferential tariff system that developed countries extend to developing countries. This topic features regularly in the news and is important for the UPSC exam economy and international relations segments. Aspirants would find this article very helpful while preparing for the IAS Exam.
How did the GSP system help developing countries?
The USA has a strong GSP regime for developing nations. It was launched in 1976. About 120 countries benefited from the US’s GSP system. Additionally, the US also benefitted from the GSP by way of reduced costs of imported (to the US) goods used by American companies in manufacturing.
How to apply for the Global Studies Programme?
To apply for the Global Studies Programme, you need to submit the following documents through the online application system: Motivation letter: Essay (600 words). Please refer to these guiding questions for your essay. Research Proposal (800 words excluding references) Please refer to the guiding questions below.
Who are the beneficiaries of the GSP system?
It was launched in 1976. About 120 countries benefited from the US’s GSP system. Additionally, the US also benefitted from the GSP by way of reduced costs of imported (to the US) goods used by American companies in manufacturing. According to export volumes (2017 data), India and Brazil were the prime beneficiaries of the USA’s GSP regime.
Last Update: Oct 2021
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