• The United States withdrew India's Generalised System of Preferences (GSP) benefits in 2019
• The two sides have been in talks over the restoration of GSP status for India ever since
• India put forward a number of proposals to the US to address their concerns, including reducing tariffs on medical equipment and increasing purchases of US goods
• However, no concrete solution had been reached until Piyush Goyal, India's Minister of Commerce and Industry, proposed a new solution during a recent meeting with the US Trade Representative.
• Goyal suggested a new trade package which would cover all issues between the two countries, and include a restoration of GSP benefits for India.
• The proposal is currently under review by the US and India is awaiting a response from the US.

Overall, while India has been working towards the restoration of GSP benefits, Piyush Goyal's proposed trade package could potentially address other issues between the two countries as well, and could be a positive development in US-India trade relations.