EU to remove GSP treatment for Indian exports from January 2023

The European Union decide to eliminate India's Generalized System of Preferences (GSP) treatment from January 1, 2023, which means that a general import tariff of 6.5% will be levied to products exported from India to the EU from January 2023, the 6.5% import tariff is an additional increase for PET bottle chip, for which countervailing duties existed previously.