Commerce and Industry Minister Piyush Goyal underscored New Delhi’s commitment to steer clear of incentives that cause price distortions and promote dumping.
Addressing the G20 Trade Ministers’ Meeting session on ‘Structural Excess Capacity and Production’, Union Minister Piyush Goyal said that India does not have structural excess manufacturing capacity in sectors identified by the G20 presidency. The Minister also highlighted that distortion arises where concentration follows hidden subsidies and support, and that India addresses dumping and predatory pricing through WTO measures such as anti-dumping and countervailing duties, based on evidence.
Speaking at the G20 Trade Ministers’ Meeting session on the Most-Favoured-Nation Principle, Union Minister Piyush Goyal stressed that MFN treatment guarantees that the smallest trader receives the same terms as the largest.
He underlined that India cannot support making MFN conditional on obligations chosen by some members of the WTO. He also reiterated that as we strengthen the multilateral trading system, preserving this balance can reinforce confidence, predictability and inclusiveness.
#PiyushGoyal #G20TradeMinistersMeeting #G20 #IndiaTrade #WTO #MFN #MostFavouredNation #GlobalTrade #TradePolicy #AntiDumping #CountervailingDuties #MultilateralTrade #IndiaAtG20 #CommerceAndIndustry #NewDelhi
