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EU suspends GSP export benefits; textiles, plastics likely to be hit
Business Standard
|January 23, 2026
The European Union (EU) has suspended export benefits to sectors such as textiles and plastics under a preferential scheme for India and two other countries from January 1, a move that will impact the country's shipment to the 27-nation bloc.
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The development is important as the two sides are likely to announce the closure of negotiations for a free-trade agreement (FTA) on January 27.
According to the Official Journal of the European Union, the European Commission on September 25, 2025, laid down rules for the application of the regulation with regard to the suspension for 2026-2028 of certain tariff preferences granted to certain Generalised System of Preferences (GSP) beneficiary countries - India, Indonesia and Kenya.
This story is from the January 23, 2026 edition of Business Standard.
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