Exports of certain leather items to get impacted due to GSP benefit withdrawal by US: CLE
Exports of certain leather goods, including handbags and accessories, to the US would get impacted due to the duty benefit withdrawal by America under its GSP programme, CLE said Tuesday.
Council for Leather Exports (CLE) Chairman P R Aqeel Ahmed said import duty in the range of 6 to 9 per cent would be invoked on these leather goods.
"This is an unfortunate event. Withdrawal of duty benefits under the Generalized System of Preferences (GSP) programme of the US will impact our exports to the US," Aqeel said.
He said Indian leather products would not be able to compete with items from Indonesia, Myanmar and Cambodia.
GSP, the largest and oldest US trade preference programme, is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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