The Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in promotion, financing and development of micro, small, and medium enterprises (MSMEs) has launched various initiatives focused on cluster development under its developmental ambit.
SIDBI CMD Sivasubramanian Raman said, “The SIDBI has identified a multi-pronged strategy to impact local, regional, national and global value chain through MSE clusters. We are giving a thrust to hard infrastructure support to state governments. The Reserve Bank of India has supported us in setting up the SIDBI Cluster Development Fund.
“The soft infrastructure engagement shall complement the hard infrastructure. In line with cluster experts we have initiated the mapping exercise of 100 clusters such that the implementation by SIDBI and other institutions can lead to the sustainable growth of clusters,” he said.
SIDBI has been supporting MSMEs through its focused cluster development initiatives such as support for technology up-gradation, modernisation, skilling, and market linkages. Its cluster development strategy now caters to over 600 MSME clusters.