The government has identified clusters of more than 3,000 small and medium enterprises in the country, of which 1,150 clusters have been taken up for intervention and improvement.

"Among the several policy initiatives that India has undertaken, cluster development appears to be an attractive one. Of the 3,000 SME clusters identified, we have taken up 1,150 clusters for intervention and improvement," Minister of Micro, Small and Medium Enterprises Mahabir Prasad said.

He was speaking at the Asia-Europe Ministerial Meeting (ASEM) on SMEs in Beijing, an official release said.

Prasad said India has also undertaken a programme for Twinning Indian SME clusters with those in Italy.

"India would also like to learn from other Asian and European countries about their experience in cluster development so that we may improve our methods and imbibe the best practices in the world," he said.

He said the credit policy has helped in linking the Indian MSMEs with almost 55000 bank branches and have given loan (outstanding) of over 55 billion dollars.

In 2006-07, advances to MSMEs from the public sector banks registered a growth of over 27 percent.

India has an estimated 13 million SMEs, employing over 31 million people. Exports from the sector is estimated at 50 billion dollars in 2005-06.

China hosted the ASEM SMEs Ministerial Meeting aimed at deepening dialogue among governmental agencies of ASEM members in charge of SMEs and enhancing cooperation among SMEs in ASEM members.

Mr. Divya Aggarwal

Money Management Consultants Ltd

Senior Copy Editor, Money Management Consultants Ltd
New Delhi, India

Free Member, Joined :05/11/2007
No of Topics Posted : 113
Reply/Comments : 14