Piyush Goyal's Sharp Warning To EU: Protectionism Could Make Europe Uncompetitive

Is Europe damaging its own economic future with excessive regulations and protectionist policies? Union Commerce and Industry Minister Piyush Goyal delivered a blunt reality check to the European Union at the Berlin Global Dialogue. Criticising Europe's growing regulatory burden, trade restrictions and protectionist approach, Goyal warned that the EU risks making its industries uncompetitive while increasing inflation and the cost of living for consumers. He questioned Europe's steel protection measures, Carbon Border Adjustment Mechanism (CBAM) and deforestation regulations, arguing that such policies could raise infrastructure costs, discourage international trade and invite retaliatory measures from trading partners. Drawing parallels with India's pre-1991 protectionist economic model, Goyal highlighted how India is now pursuing competitiveness, global partnerships and mutually beneficial trade agreements. Could Europe's regulatory approach ultimately push global businesses towards more competitive markets? Watch Piyush Goyal's remarks on Europe's economic policies, industrial competitiveness and the future of global trade.