MSME Ministry to launch virtual network to link clusters

The Ministry of Micro, Small and Medium Enterprises (MSME) is set to launch a virtual network wherein different clusters of micro, small and medium enterprises can connect on a common platform and share information to help them expand their business. 

About Virtual Cluster Approach
  • An initiative of the Ministry of MSME.
  • Purpose: To overcome the limitations of the Physical Approach requiring the location of the units in one geographical area besides substantial resources for creation of infrastructure.
  • Will enable small businesses across different sectors to co-exist with their peers on a web-portal.
  • Around 2,000 industrial clusters have been identified for undertaking soft and hard interventions with a view to increase the competitiveness of the enterprises.

Till now, the Ministry of MSME helped around 850 clusters through its MSE — Cluster Development Programme.

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Categories: Business & Economy Current Affairs 2017

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