Goyal at G20: India opposes making MFN conditional on WTO obligations
Union Minister Piyush Goyal represented India at the G20 Trade Ministers' Meeting, emphasizing the importance of the Most-Favoured-Nation principle. He stated that equal trading terms are essential for both large and small traders. Goyal expressed India's commitment to addressing trade distortions through WTO-compliant measures and preserving developing countries' policy space for…
During the G20 Trade Ministers Meeting in Milwaukee, India's Commerce and Industry Minister Piyush Goyal emphasized that India opposes making Most-Favoured-Nation (MFN) treatment conditional on World Trade Organisation (WTO) obligations, according to ANI. Goyal stressed that the framework should ensure equal trading terms for all countries, regardless of their size, to maintain confidence, predictability, and inclusiveness in the multilateral trading system.
He reiterated India's commitment to WTO-compliant actions, emphasizing that corrective measures against unfair trade practices must remain within WTO rules. India supports WTO-compliant anti-dumping and countervailing duties, but only when based on evidence and subject to judicial review. Goyal rejected the idea that India has structural excess capacity, arguing that the country's economy is driven by domestic demand and that industrial capacity alone is not problematic.
He called for stronger WTO safeguards, including the restoration of the two-tier dispute settlement mechanism and the preservation of special and differential treatment for developing countries.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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