"The UK withdrawing GSP concessions on labour intensive products was expected as the two countries are negotiating a free trade agreement," New Delhi-based think tank Global Trade Research Initiative (GTRI) co-founder Ajay Srivastava was quoted as saying by a news agency.
As the concessions are small, Srivastava urged the Indian government to stop participating in GSP schemes and stand tall like China does.
The share of certain Indian goods in exports to the United Kingdom has increased from a specified limit due to which those sectors cannot enjoy GSP benefits now, Federation of Indian Export Organisations (FIEO) director general Ajay Sahai said.
"India will get the benefits under standard preferences rather than enhanced preferences. LDCs [least developed countries] will get enhanced benefits," he added.
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