Goyal calls for steps to address trade distortions
new delhi, Oct. 3 -- Commerce and industry minister Piyush Goyal on Friday called for measures to address global trade distortions to remain consistent with World Trade Organization (WTO) rules, warning against using supply-chain diversification as a pretext for measures that fall outside the multilateral trade framework.
Speaking at the concluding day of the G20 Trade Ministers' Meeting in Milwaukee, Wisconsin, Goyal said India does not have structural excess capacity in the sectors identified by the G20 presidency, and that its manufacturing capacity serves both domestic and global demand, according to a commerce ministry statement.
"Trade-distorting support in some economies can lead to dumping and predatory pricing," the statement quote...
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