India, 14 others ink joint ministerial statement to curb structural excess capacity. Comprehensive market analysis and insights regarding this update. India has joined the US, EU, UK and 12 other economies in a joint statement to tackle structural excess capacity and production, despite facing a US trade probe over alleged overcapacity. The signatories will examine key sectors including EVs, batteries, chemicals, semiconductors and solar panels through dedicated sectoral platforms. Industry experts note that this development will have significant implications moving forward.