GSP, or Generalized System of Preferences, is a trade program that promotes economic growth and development in developing countries by providing preferential duty-free access to their products in the markets of developed countries. This program aims to reduce trade barriers and increase market access for developing countries, ultimately leading to increased trade and investment opportunities. GSP benefits a wide range of industries, including agriculture, textiles, and manufacturing, and helps to foster sustainable development and poverty reduction in developing nations. By providing a level playing field for developing countries, GSP promotes fair and equitable trade practices and contributes to the overall growth of the global economy.