New Delhi, Oct. 8 -- India and 13 other economies have called for coordinated global action to address structural excess industrial capacity and production, citing concerns over market distortions, pressure on domestic industries and supply-demand imbalances.

The countries issued a joint statement on Wednesday on the sidelines of the Organisation for Economic Co-operation and Development (OECD) Trade Committee deliberations in Washington.

Economies Call For Action On Excess Industrial Capacity

The signatories called on countries to address structural excess capacity, including by ending non-market policies and practices that distort markets and contribute to excess production, reported PTI.

Building on discussions at the G20 Trade Min...