Goyal told the G20 that capacity alone is not a trade distortion, and opposed conditional MFN

Punjab, Oct. 3 -- At the G20 Trade Ministers' Meeting in Milwaukee, Piyush Goyal said India has no structural excess capacity in the sectors the G20 presidency has identified - and that industrial capacity on its own is not evidence of a trade distortion.

What India argued

Three things, and they are connected.

On dumping: India shares the concern that trade-distorting support in some economies produces dumping and predatory pricing. The remedy is WTO-consistent - anti-dumping and countervailing duties, based on evidence, subject to judicial review.

On excess capacity: India does not have it in the named sectors. Capacity alone is not a distortion; a distortion exists where geographic concentration of production is driven by hidden subsi...