Industrial competitiveness

On 10 October 2012 the Commission adopted an Update of the Industrial Policy flagship initiative – "A Stronger European Industry for Growth and Economic Recovery".

A strengthened focus on real economy is pivotal to Europe to reverse the current downward trend and trigger economic recovery by delivering sustainable growth, creating high-value jobs and solving societal challenges. Despite being world-leader in many strategic sectors, the economic crisis and the increasing global competition have and are currently challenging European industry. In the current landscape, innovation and technological development could serve as a competitiveness-booster and springboard for recovery. Our competitors in US and Asia are earmarking heavy investment in new technology, at a time when lack of confidence, market uncertainty financing problems and skill shortage are restraining it in Europe. Europe needs its industry but industry needs Europe as well. That is why the European Commission adopted two Communications aimed at tackling the bottleneck of industry potential.

The Communication on "An integrated industrial policy for the globalisation era" adopted in October 2010 highlighted the need for placing Industry centre stage.

After two years of successful implementation, the European Commission adopted the review of the flagship with the new Communication "A Stronger European Industry for Growth and Economic" adopted in October 2012.