The Economic Times

India joins US, 13 economies in joint statement to address global excess capacity after G20 meeting

India, along with the United States and 13 other economies, has signed a joint statement aiming to address structural excess capacity. The participating economies emphasized the importance of eliminating non-market policies that distort economic conditions. They acknowledged the growing challenges posed by excess capacity in manufacturing sectors, which hinders market-based investments. The countries committed to cooperating and sharing information to mitigate the negative impacts on trade and jobs.