Indian exports to the US registered a growth of 32 per cent in June. These goods enjoy benefits under the preferential tariff system Generalised System of Preferences. The major products which have shown an increase in exports include plastics, rubber, base metals (aluminum), machines and equipments, transport equipment, hides and leather, pearls and precious stones. This is a clear indication that Indian products have the full potential to compete globally and are not solely dependent on support.

The US rolled back export benefits to over 1,900 Indian goods from June 5, 2019. These incentives were provided by the US under the GSP program. India needs to incentivise new sunrise sectors like furniture and electrical by creating a cluster-based mega ecosystem, which can boost export growth enormously. The era of continuously sustaining labor incentive sectors should end, as their growths have already flattened, despite sustained support. Both India and the US have agreed to engage regularly at various levels to resolve outstanding trade issues by exploring mutually beneficial and suitable solutions. The countries have agreed to deepen economic cooperation and bilateral trade by ensuring greater cooperation among stakeholders, including governments, businesses and entrepreneurs. They will explore suitable solutions, which are mutually beneficial and promote economic development and prosperity in both countries.