SIDBI declares new fund, business development services program to encourage MSME cluster development
On Monday, the Small Industries Development Bank of India (SIDBI) declared its ambitions to encourage cluster development to grow micro, small, and medium enterprises (MSMEs). The bank propelled a focused vertical for MSME clusters’ centric programs, and a Cluster Development Fund to proffer a push to complex infrastructure support to state governments. The bank announced it is operating on both interventions viz., complex infrastructure (physical infrastructure) and soft infrastructure (training, skilling, marketing, technology access, design, etc.) “to strengthen clusters to evolve as model clusters and also to increase MSMEs’ access to services, thus raising the value chain.” Ravindra Kumar Singh,…