Manufacturing and Industrial Policy in European Union: An Appraisal

Manufacturing Sector is a vital source of technological progress which bears advantageous results according to the United Nations Industrial Development Organization. This veritable claim of UNIDO is proved by the fact that manufacturing and corporate business houses show more inclination towards research and development oriented and technology driven projects in comparison to other business hubs and there is a strong competition for composite market share in all manufacturing, industrial and service sectors within the European Union; that too, when the manufacturing, industrial and service trade encompasses wider cross-border mergers and acquisitions, not just of manufacturing goods, industrial products and services, but also of capital inflows, ideas and manpower. However, the market trends show that it may vary widely depending on the kind of processing techniques of the manufacturing sectors, requirements of the particular industries, mechanisms of production or even the specific European country in question