TL;DR
India has joined the US and 13 other nations in an initiative to address excess manufacturing capacity in sectors including EVs and batteries, aiming to ensure fair global markets.
India has joined the United States and 13 other economies in a new initiative aimed at addressing structural excess capacity across five critical manufacturing sectors: automobiles and electric vehicles (EVs), batteries, chemicals, foundational semiconductors, and solar panels.
This initiative commits the signatory nations to collaborate on identifying and tackling production imbalances that are perceived to distort global markets and undermine fair competition. The joint ministerial statement was signed in Washington on October 8, 2026, on the sidelines of the Organisation for Economic Co-operation and Development (OECD) Trade Committee meeting. Dedicated sectoral platforms will be established to examine excess capacity and propose corrective measures, with technical meetings planned before December 2026.
