- India has no structural excess capacity in sectors flagged by the G20 Presidency
- Goyal wants anti-dumping and countervailing duties, backed by evidence and open to judicial review
- Border measures on forced labour must rely on specific, verifiable evidence
- India amended its Foreign Trade Policy in July 2026 to ban imports made with forced labour
- Goyal called for restoring the two-tier WTO dispute settlement system
Union Commerce and Industry Minister Piyush Goyal spoke on the concluding day of the G20 Trade Ministers’ Meeting in Milwaukee, Wisconsin, U.S. He addressed four sessions: excess capacity, the Most-Favoured-Nation principle, forced labour in supply chains, and the closing session.
Excess capacity and subsidies
Goyal described India as the fastest-growing large economy in the world. Its growth is driven by domestic demand and serves 1.4 billion people. He said Indian manufacturing, from design to finished goods, meets domestic and global needs.
In the sectors the G20 Presidency identified, India has no structural excess capacity, he said.
Goyal said India shares other members’ concern that trade-distorting support in some economies can lead to dumping and predatory pricing. Such problems should be tackled with WTO-consistent tools, including anti-dumping and countervailing duties. These must be based on evidence and remain open to judicial review.
He stressed that industrial capacity is not the problem itself. Distortions arise when hidden subsidies and support drive the geographical concentration of production. Diversifying production and supply chains is a legitimate goal, he said. However, it cannot justify steps outside WTO rules or push the burden of adjustment onto developing countries that need room to industrialise. Data sharing should happen through existing mechanisms.
Most-Favoured-Nation and dispute settlement
Goyal said India’s trade with G20 members depends on a transparent, non-discriminatory and rules-based system. MFN treatment is a key guarantee of that system, giving a small trader the same terms as a large one.
He said consensus must stay central to the WTO. Special and differential treatment must also be preserved so developing countries can catch up with developed economies. He called for restoring the two-tier dispute settlement system.
Forced labour and border measures
India’s opposition to forced labour is absolute and unconditional, Goyal said. Article 23 of the Constitution bans it as a fundamental right, which the Supreme Court can enforce.
India has ratified ILO Conventions 29 and 105. In July 2026, it amended its Foreign Trade Policy to prohibit imports of goods made using forced labour.
Goyal said border measures must rest on specific, verifiable evidence, not presumptions about whole countries, regions or sectors. They must also follow due process and WTO rules. He called the International Labour Organization the competent, universal and tripartite body for labour standards.
India supports voluntary sharing of good practices among G20 members. It opposes any cooperation that involves monitoring members, creates new obligations, or lets shared information become a basis for unilateral trade action.
Closing remarks and sidelines
Goyal thanked Ambassador Greer and the US G20 Presidency for the arrangements and hospitality in Milwaukee. Citing Prime Minister Narendra Modi, he said issues that cannot be resolved together should not block those that can. He said India took part in that spirit and offered constructive inputs on all four themes.
He reaffirmed India’s commitment to a rules-based, fair, open and multilateral trading system with the WTO at its core. He also backed preserving policy space for developing countries and decision-making by consensus. India extended full support to the United Kingdom’s G20 Presidency in 2027.
On the sidelines, Goyal held bilateral meetings with Australia’s Minister for Trade and Tourism, Saudi Arabia’s Minister of Commerce, France’s Minister Delegate for Foreign Trade and Economic Attractiveness, the Republic of Korea’s Minister for Trade, and Canada’s Minister of International Trade.
