'Smallest trader receives...': What Piyush Goyal said as he rejects conditional MFN treatment at G20 meet

Union Commerce and Industry Minister Piyush Goyal made it clear that India opposes linking the Most-Favoured-Nation (MFN) status to voluntary or selective WTO rules. He was attending the the G20 Trade Ministers' Meeting Session.

On Friday, the Union Commerce and Industry Minister Piyush Goyal clarified that India cannot endorse making the Most-Favoured-Nation (MFN) treatment conditional on obligations chosen by a select group of World Trade Organisation (WTO) members. He was attending the G20 Trade Ministers' Meeting Session.

At the meeting, Goyal spoke on structural excess capacity and production, updating the Most-Favoured-Nation principle, ending forced labour in global supply chains, and the closing session.

Piyush Goyal on Most-Favoured-Nation principle

Taking to X, Goyal said that he raised the issue regarding the MFN principle during the G20 Trade Ministers' Meeting session.

"At the G20 Trade Ministers' Meeting Session on the Most-Favoured-Nation Principle, I stressed that the MFN treatment guarantees that the smallest trader receives the same terms as the largest," Goyal said.

He also emphasised India's stance on making MFN conditional on obligations.

"Also reiterated that as we strengthen the multilateral trading system, preserving this balance can reinforce confidence, predictability & inclusiveness," he added.

Structural excess capacity and production

Earlier today, Goyal called for a World Trade Organisation-compliant approach to tackle trade distortions and excess capacity during the concluding day of the G20 Meeting in Milwaukee, Wisconsin.

According to the Ministry of Commerce & Industry, the Minister stated that addressing unfair market practices needs strict adherence to established multilateral rules instead of unilateral actions.

“Trade-distorting support in some economies can lead to dumping and predatory pricing,” Goyal said in a statement. He said the concerns can be addressed through WTO-consistent instruments, including anti-dumping and countervailing duties, which rely on evidence and are subject to judicial review.

“Diversification of production and supply chains is a legitimate objective, but cannot be used as a pretext for measures outside WTO rules or for shifting the burden of adjustment onto developing countries,” he added.

Goyal added that industrial capacity was not an issue. However, he believes that distortions could arise when geographical concentration of production is driven by opaque subsidies and other forms of support.

Other topics

According to Goyal, India participated in the G20 meeting with a “constructive” approach. It discussed four themes, including structural excess capacity and production, the MFN principle, forced labour in global supply chains and the closing session.

Goyal meets trade ministers of France, Canada, Saudi Arabia, South Korea

Besides the meeting, Goyal also held bilateral discussions with trade ministers from countries including Australia, Saudi Arabia, France, South Korea and Canada, as per reports.

(with inputs from ANI)

About the Author

Sneha Biswas specialises in covering entertainment and pop culture, with a specialisation on Bollywood, Hollywood, OTT platforms, K-pop, K-dramas, and major developments in the US entertainment industry. She believes in telling stories that balance speed with substance, and in making entertainment journalism contextual, culturally aware, and reader-first rather than purely reactive.<br><br> With over six years of experience in digital media, Sneha currently serves as a Deputy Chief Content Producer at Live Mint. She has spent more than three and a half years with the HT Group and returned to the organisation in February 2025, joining Live Mint to uplift the entertainment section. Over the past year, she has been closely involved in entertainment coverage including breaking news, explainers, trend reporting, box office reports and analysis for the audience.<br><br> Sneha is Google News certified, having completed training focused on newsroom best practices, digital reporting, and SEO-driven content strategies. Her work reflects a strong understanding of audience behaviour, search trends, and the evolving consumption patterns of entertainment news across formats.<br><br> Prior to her current role, Sneha has worked across multiple content and editorial functions within digital newsrooms, building expertise in content planning, editing, and real-time coverage. Her professional interests lie at the intersection of entertainment, internet culture, and global pop trends.<br><br> Working for the National city team, Biswas closely follows global entertainment movements while maintaining a strong pulse on what is happening in India.

^{Get Latest real-time updates}

Stay updated with the latest Trending, India, World and US news.

HomeNewsIndia'Smallest trader receives...': What Piyush Goyal said as he rejects conditional MFN treatment at G20 meet