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Informist, Saturday, Oct. 3, 2026

 

NEW DELHI – India has pitched for the adoption of World-Trade-Organization-compliant approach to deal with global trade distortion. The country shares the concerns of many G20 nations that some countries are supporting trade distortion, Commerce and Industry Minister Piyush Goyal said Friday. This can lead to dumping and predatory pricing of products, he said.

 

"...distortions can arise where geographical concentration of production is driven by hidden subsidies and support," the minister said on the concluding day of the G20 Trade Ministers' Meeting in Milwaukee, Wisconsin, US. "Such concerns are addressed through WTO-consistent measures, including anti-dumping and countervailing duties, based on evidence and subject to judicial review."

 

According to the minister, industrial capacity in itself is not the issue. "Diversification of production and supply chains is a legitimate objective, but cannot be used as a pretext for measures outside WTO rules or for shifting the burden of adjustment onto developing countries, which must retain policy space to industrialise," Goyal said. "Sharing of statistics and data should take place within existing mechanisms," he said as quoted in a commerce ministry press release. 

 

Talking about the most-favoured-nation principle, the minister said, India's trade with G20 members depends on a transparent, non-discriminatory, and rules-based trading system. "Most-Favoured-Nation treatment is a key guarantee of this system, ensuring that the same terms apply to the smallest trader and the largest trader," he said. Consensus remains central to the World Trade Organization, the minister said, adding that "special and differential treatment must be preserved to enable developing countries to catch up with developed economies."  End

 

Reported by Shweta

Edited by Deepshikha Bhardwaj

 

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