05 AUGUST 2015 CURRENT AFFAIRS

US renews GSP benefits for Indian exporters

• The US government extended the Generalised System of Preferences (GSP) for Indian exporters retrospectively from August 2013, enabling duty-free entry of 3,500 product lines
• The move is expected to benefit exporters of textiles, engineering, gems and jewellery, and chemical products, among others, as their biggest market is the US
• A wide range of industrial and agricultural products originating in certain developing countries are given preferential access to American markets. 
• This is given in the form of reduced or zero rates of customs duties and was introduced by the US in 1976
• This was the longest delay by the US in renewing the GSP

Cabinet approves proposal to sign agreement with UNESCO

• The Union Cabinet approved a proposal to sign an agreement with UNESCO for establishment of a Centre for World Natural Heritage Management and Training for Asia-Pacific region at the Wildlife Institute of India (WII) in Dehradun as a category-2 centre of the UN body
• The Cabinet, chaired by Prime Minister Narendra Modi approved the proposal for signing the pact
• The Environment Ministry and the Centre will provide capacity building support to countries in the region for upkeep of heritage and natural sites