Cluster Development Programme
Small Industries Development Bank of India (SIDBI) recently handed over a commitment letter to Government of Assam of Rs. 350 crores under Cluster Development Fund.
Consider the following statements regarding Cluster Development Programme:
- It is a scheme of Ministry of Micro, Small and Medium Enterprises (MSME) for enhancing the productivity and competitiveness of Micro and Small Enterprises only.
- It aims to set up Common Facility Centres for testing, training, raw material depot, effluent treatment, complementing production processes etc.
- The Cluster Development Fund is managed by Small Industries Development Bank of India (SIDBI).
Which of the above statements are correct?
Cluster-based development for Micro, Small, and Medium Enterprises can potentially solve many challenges faced by these industries in India. Discuss. (250 Words)
- Introduce by highlighting the significance of MSMEs in India’s economy and employment generation
- Enumerate various challenges faced by MSME sectors
- Describe cluster-based approach and show how it can solve many challenges faced by MSMEs in an efficient manner
- Way Forward / Conclusion