Home / Knowledge / News / EC outlines plan to raise manufacturing to 20% of EU GDP
EC outlines plan to raise manufacturing to 20% of EU GDP
11
Oct '12
Europe needs to reverse the declining role of industry for the 21st century with the aim to deliver sustainable growth, create high-value job and solve societal challenge that we face. Immediate action should contribute to reverse the current downward trend from its current level of 15.6% of EU GDP to as much as 20% by 2020.

Therefore the Commission proposes a number of priority actions to stimulate investments in new technologies, to improve the business environment, to access to markets and to finance, particularly for SMEs, and ensure that skills meet industry’s needs.

Europe's industry is well placed to assume this role: Europe is a world-leader in many strategic sectors such as automotive, aeronautics, engineering, space, chemicals and pharmaceuticals. Industry still accounts for 4/5 of Europe's exports and 80% of both Europe's exports and of private sector R&D investment comes from manufacturing.

If confidence comes back, and with it new investments, Europe's industry can perform better and start growing again. This is the core message of a communication tabled by European Commission Vice President Antonio Tajani in Brussels. The actions proposed by this Communication should also contribute to reduce competiveness gap across Member States and EU regions.

European Commission (EC) Vice President Antonio Tajani, Commissioner for Industry and Entrepreneurship, said: "We cannot continue to let our industry leave Europe. Our figures are crystal clear: European industry can deliver growth and can create employment.

“Today we tabled the conditions for the sustainable industry of the future in Europe, to develop the investments needed in new technologies and to rebuild a climate of confidence and entrepreneurship. By working together and restoring confidence, we can bring back industry to Europe."

The Commission has also adopted two reports on Competitiveness: the New Industrial Performance Scoreboard on the Member States which looks at five key areas: manufacturing productivity; export performance; innovation and sustainability; business environment and infrastructure; and finance and investment (MEMO/12/760); and the European Competitiveness Report 2012 (MEMO/12/761) which analyses the main globalisation trends in the last 15 years and the implied costs and benefits and the challenges ahead for EU businesses.

Lack of confidence triggers lack of investment

Market uncertainty, financing problems, lack of demand and skills shortages triggered lack of confidence which in turn triggered lack of investment and job losses in industry.

Pillars of the reinforced industrial policy are:

Investments in innovation - providing the right framework conditions for investments, to rapidly return to pre-crisis levels, with a focus on six priority areas, with enormous potential for growth and jobs in Europe: advanced manufacturing technologies for clean production, key enable technologies, bio-based product markets, sustainable industrial policy, construction and raw materials, clean vehicles and vessels and smart grids. Member States as well should play their part and should prioritise investments in these six areas.


Must ReadView All

Market share of Indian textile items expand in 13 nations

Textiles | On 11th Dec 2017

Market share of Indian textile items expand in 13 nations

Thirteen countries — Germany, France, Italy, the United States,...

Bangladesh garment exports rise 7.46% in July-Nov '17

Apparel/Garments | On 11th Dec 2017

Bangladesh garment exports rise 7.46% in July-Nov '17

Readymade garment exports from Bangladesh increased 7.46 per cent in...

Cotton price increase is not sustainable: ITF

Textiles | On 11th Dec 2017

Cotton price increase is not sustainable: ITF

The increase in cotton price seen last week is only a short-term...

Interviews View All

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search