At G20, Piyush Goyal rejects dumping concerns

India's Commerce and Industry Minister Piyush Goyal addressed concerns about dumping during the G20 Trade Ministers' Meeting in Milwaukee. He emphasized that India does not possess structural excess manufacturing capacity in sectors highlighted by the G20 presidency, emphasizing the country's dedication to avoiding incentives that cause price distortions and promote dumping.

Goyal stressed that measures at the border should be grounded in specific and verifiable evidence, rather than assumptions about entire countries, regions, or sectors, and should respect due process and World Trade Organization (WTO) rules. India's installed capacity adequately serves both domestic and global needs, and New Delhi has implemented steps to prohibit the import of goods produced through forced labor, Goyal stated in a ministry statement.

He clarified that industrial capacity alone does not lead to dumping; distortions may occur when geographical concentration of production is driven by hidden subsidies and support. Goyal reiterated that India's manufacturing capacity serves domestic and global needs in the sectors identified by the G20 Presidency, noting that no structural excess capacity exists.

He reiterated India's commitment to ensuring that diversification of production and supply chains is a legitimate objective but cannot be used as a pretext for measures outside World Trade Organization rules or to shift adjustment burdens onto developing countries, which must retain policy space to industrialize.