India Has No Structural Manufacturing Excess, Says Goyal at G20
Commerce and Industry Minister Piyush Goyal said India does not suffer from structural excess manufacturing capacity, arguing that industrial capacity itself is not the problem. Speaking at the G20, he said distortions can emerge when production becomes geographically concentrated because of hidden subsidies and other forms of state support. The remarks come as governments worldwide intensify scrutiny of industrial policy, supply-chain resilience and fair competition.
