‘France must act now to future-proof its industrial sector’
Despite its strong foundations, France’s industrial sector is facing growing pressure. Gilles Bonnenfant and Hugues Tourel, leaders at Eurogroup Consulting, explain why policymakers have little time to waste: future-proofing the nation’s industrial base is now a strategic imperative.
For the past fifteen years, France has analyzed its industrial decline with near-surgical precision, while in practice accepting the gradual erosion of its control over key value chains. We know how to diagnose, compare, and warn. But we have yet to respond at the scale required by the historic transformation now underway. Meanwhile, the rest of the world has moved on.
The industrial question is no longer a debate reserved for experts. It has become a political reality, tied directly to a country’s ability to make sovereign decisions in a world increasingly shaped by power dynamics.
While France continues refining its analyses, competing blocs have made industry the centerpiece of their economic strategies.
The United States has broken with three decades of orthodoxy by deploying massive industrial investment plans. China continues to implement a highly coherent strategy that combines industrial upgrading with global influence over standards and regulation. Meanwhile, ASEAN countries are accelerating toward decarbonized industry models that are increasingly becoming drivers of competitiveness.
These strategies are neither temporary nor ideological – they are deliberate, targeted, and executed with precision.
The vision exists – now speed is needed
France does not lack vision; it lacks speed and focus. In a world defined by strategic dependencies, sovereignty no longer means producing everything domestically. It means choosing the right battles quickly and recognizing, with clarity, those that cannot be won. At this stage, failing to choose is no longer prudence – it is acceptance of decline.
The time has come to lay the foundations for a more offensive industrial strategy, making clear bets on sectors where France can lead and shape global standards: advanced materials, next-generation nuclear energy, biotechnology, defense, space, and complex industrial equipment. Every missed industrial cycle permanently weakens the country’s ability to shape its own future.
France still possesses the foundations of a major industrial power: centers of excellence, global champions, and internationally recognized expertise.
It also benefits from underestimated structural advantages: a central geographic position within Europe and strong multimodal infrastructure, making France a natural industrial and logistics hub. When industrial services are included, the broader industrial economy represents more than 20% of GDP – the basis of a modern, integrated industrial model. Failing to convert these advantages into productive strength is no longer a delay; it is a renunciation.
Making clear choices
France’s success now depends on making clear strategic choices and on the collective ability to execute them. Securing value chains, mobilizing long-term financing, and turning Europe into a force multiplier through initiatives such as a “Buy European Act” are all essential.
At the same time, the state can no longer carry the burden alone. The country’s industrial trajectory will also depend on companies’ willingness to invest, build coalitions, and execute quickly.
Finally, it will require major investment in skills and a renewed collective narrative capable of reconnecting the country – especially younger generations – with industry by positioning industrial careers as jobs of the future.
This moment marks a turning point: the emergence of a targeted industrial pact in which both government and business jointly define priorities and share responsibility for investment and execution. Industry is no longer simply an economic sector; it is a national project. It is the foundation of France’s long-term economic power and influence. But realizing that promise will require action – now.
