93. VIRTUAL CLUSTERS

♤ The MSME Ministry launched a virtual network wherein different clusters of MSMEs can connect on a common platform and share information to help them expand their businesses.

♤ Aim – to link up academic and research institutes, financial institutions like SIDBI and commercial banks which will be a network of different stakeholders.

♤ It overcomes the limitations of the current ‘Physical Clusters’ Scheme requiring the location of the units in one geographical area besides substantial resources for creation of infrastructure.

♤ It will enable small businesses across different sectors to co-exist with their peers on a web-portal.

Under the initiative, around 2,000 industrial clusters have been identified for undertaking soft and hard interventions with a view to increase the competitiveness of the enterprises.