Business EconomyPosted at: Oct 2 2026 6:21PM


Piyush Goyal calls for WTO-compliant measures to address global trade distortions

New Delhi, Oct 2 (UNI) union Commerce and Industry Minister Piyush Goyal has called for trade measures to address global production and trade distortions to remain consistent with World Trade Organization (WTO) rules, while cautioning against shifting the adjustment burden onto developing economies.
Speaking at the concluding day of the G20 Trade Ministers’ Meeting in Milwaukee, Wisconsin, Goyal said India did not face structural excess capacity in the sectors identified under the G20 presidency. He highlighted India’s domestic-demand-driven economy and its expanding manufacturing value chains as part of its role in global supply chains.
Goyal said concerns over trade-distorting support and its potential impact on competition could be addressed through established WTO mechanisms, including anti-dumping and countervailing duties. Such measures, he said, should be supported by evidence and remain subject to judicial review.
The minister also argued that industrial capacity by itself should not be treated as a trade problem. According to him, distortions could emerge when production becomes geographically concentrated because of hidden subsidies or other forms of support. While diversification of production and supply chains is a legitimate objective, he said it should not become a justification for measures that fall outside WTO rules.
On the proposed updating of the Most-Favoured-Nation (MFN) principle, Goyal said India’s trade relations with G20 economies depend on a transparent, non-discriminatory and rules-based system. He stressed that MFN treatment remains an important element of that framework and called for preserving special and differential treatment for developing countries.
Goyal also backed efforts to restore the WTO’s two-tier dispute settlement system, while stressing that consensus-based decision-making should remain central to the organisation.
Addressing the issue of forced labour in global supply chains, Goyal said India’s opposition to forced labour was “absolute and unconditional”. He pointed to Article 23 of the Constitution, which prohibits forced labour, as well as India’s ratification of International Labour Organization (ILO) Conventions 29 and 105.
He also highlighted India’s July 2026 amendment to its Foreign Trade Policy, which prohibits imports of goods produced using forced labour.
At the same time, Goyal said trade-related action at borders should be based on specific and verifiable evidence rather than assumptions involving entire countries, regions or sectors. Such measures, he said, should follow due process and comply with WTO rules.
India supported cooperation among G20 members to eliminate forced labour and exchange best practices, he said, while opposing arrangements that could lead to member monitoring, create new obligations or provide the basis for unilateral trade action.
The minister reaffirmed India’s support for a rules-based, fair, transparent and inclusive multilateral trading system with the WTO at its centre. He also underlined the need to preserve policy space for developing countries and said India would extend its support to the United Kingdom, which will hold the G20 presidency in 2027.
On the sidelines of the meeting, Goyal held bilateral discussions with trade ministers and senior officials from Australia, Saudi Arabia, France, South Korea and Canada.
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