What is GSP ?
Generalized system of preferences referred to as GSP, the developed countries to developing countries exports of finished and semi finished products (including some primary products) in general, non-discriminatory, non-reciprocal tariff preferences of a system. Under the GSP (Generalized System of Preferences) program or the preferential tariff treatment, a free or reduced duty is granted by developed countries to certain manufactured goods from the least developed countries, in order to bolster their exports and economic growth.
