National News

US-Led Excess Capacity Initiative

October 13 , 2026 12 hrs 0 min 25 0

India joined the United States and 13 other economies in a joint statement to address structural excess capacity in key industries.
The group focuses on five sectors: automobiles and electric vehicles (EVs), batteries, chemicals, foundational semiconductors and solar panels.
The participating economies aim to address excess production and non-market policies that distort global trade.
The countries plan to meet at the technical level before December 2026 to share data and develop a framework for joint action.
The initiative follows earlier discussions on industrial excess capacity at the Group of Twenty (G20) in 2016.