India does not have structural excess manufacturing capacity: Goyal at G20
Commerce and Industry Minister Piyush Goyal said India does not have structural excess manufacturing capacity in the sectors identified by the G20 Presidency, asserting that the country's manufacturing capacity serves both domestic and global needs.
Via YourStory
The US holds the G20 Presidency in 2026.
He also said industrial capacity in itself is not the issue; however, distortions can arise where geographical concentration of production is driven by hidden subsidies and support.
The minister added that diversification of production and supply chains is a legitimate objective, but it cannot be used as a pretext for measures outside WTO (World Trade Organisation) rules or shifting the burden of adjustment onto developing countries, which must retain policy space to…
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