Virtual clusters important for changing paradigm of cluster development: MSME

Ministry of Micro Small and Medium Enterprises (MSME) Secretary Madhav Lal on Thursday said that promoting virtual clusters was an important stepping stone towards the changing paradigm of cluster development.

"Globally, there has been a growing interest for using clusters as a tool to address multiple issues including sustainability, inclusivity, innovation, manufacturing value added, etc. across the world", said Mr Gerardo Patacconi, Chief, CBL Unit of UNIDO, Vienna, at the International Conference on Cluster Development.

"There is also huge scope for creating win-win growth paradigms by creating local network of producers and linking them to global value chains on a stronger footing", said Patacconi.

Chairman, CII, SME Committee, Deep Kapuria said that the issue of income generation and creation of skilled entrepreneurs was a burning issue.

"The issue of income generation and creation of skilled entrepreneurs is also a burning issue and so is the need to promote job creators", said Kapuria.

Earlier, Prof Y K Alagh, Chairman of FMC had said that "there is huge scope for linking agro processing units through the cluster route and strengthen the rural economy.

"We also need to take advantage of the natural network or pockets of trust that exist in clusters both for smoothening forward as well as backward linkages". Such networks are also socially acceptable means for channeling finance," he said.

DMD-In-Charge of SIDBI N.K Maini said that SIDBI had successfully conducted an experiment, where association has done the due diligence.

"SIDBI has successfully conducted an experiment, where association has done the due diligence and SIDBI has made the financing. But such interventions need to be scaled up", said Maini,

The Conference was jointly organized by CII, Foundation for MSME Clusters (FMC), UNIDO and TCI Network and discussed issues like innovation, structural challenges market led inclusive development and sustainability and learn from global lessons from developed and developing countries by 40 international speakers for this purpose during the course of the conference.