G20 industry ministers fail to reach consensus on final document

Indian Commerce and Industry Minister Piyush Goyal stated that G20 industry ministers failed to reach a consensus on a final outcome document during their meeting in Milwaukee due to differences among certain member nations.

Despite the lack of a formal document, Goyal described the discussions as meaningful. Key topics addressed included the future of the World Trade Organization (WTO), which he noted is under “heavy pressure,” and the impact of large-scale manufacturing capacities supported by government subsidies. Goyal emphasized that manufacturing in countries practicing fair trade, such as India, the US, and Europe, should not be harmed by these subsidized capacities.

Additionally, ministers discussed the trade of goods produced through forced labor. Goyal noted a consensus among G20 members regarding the need to collectively oppose the import of goods made via forced labor.