Piyush Goyal met G20 Trade Ministers

Union Minister of Commerce and Industry Piyush Goyal participated in the concluding day of the G20 Trade Ministers’ Meeting in Milwaukee, Wisconsin, and spoke in sessions on structural excess capacity and production, updating the Most-Favoured-Nation principle, ending forced labour in global supply chains, and the closing session.

Speaking on structural excess capacity and production, Shri Goyal said that India is the fastest-growing large economy in the world, with a domestic-demand-driven economy serving 1.4 billion people, and is building manufacturing value chains from design to finished goods as a trusted link in global supply chains.

He said India’s manufacturing capacity serves its domestic and global needs and that, in the sectors identified by the G20 Presidency, India does not have structural excess capacity.(UPDATED ON 2ND OCTOBER 2026)