India signs pact to address global excess capacity: What is it? Who are the 15 signatories? Check joint statement
India signed a joint statement with 14 other economies on October 1, 2026, addressing structural excess capacity in global production. The signatories, including the US, EU, and Japan, expressed concern that excess capacity could harm domestic industries and economies. The statement calls for eliminating non-market policies that distort production and investment.