India says it lacks surplus manufacturing capacity amid G20 trade talks

At the final day of the G20 Trade Ministers' Meeting in Milwaukee, Wisconsin, Commerce Minister Piyush Goyal asserted that India’s manufacturing sector does not possess structural excess capacity in the industries flagged by the G20 presidency, such as steel, textiles, and semiconductors. He emphasized that while diversification of supply chains is legitimate, it must not become a pretext for measures that breach WTO rules or impose undue adjustment costs on developing economies.

Goyal noted that India addresses trade-distorting subsidies through WTO anti-dumping and countervailing duties, which are subject to judicial review. He also highlighted India's absolute stance against forced labour, insisting that border actions require specific, verifiable evidence and respect due process. The minister called for preserving the Most-Favoured-Nation principle and restoring the two-tier WTO dispute settlement system, stressing the need for consensus and special treatment for developing countries.