industrial cluster

Clusters are groups of inter-related industries that drive wealth creation in a region, particularly through exports of goods and services. Clusters are export oriented, are of significant size, experience rapid growth, have a regional concentration and have business interdependence with competitors, buyers, and suppliers. Clusters are not a “one size fit all” strategy and should be used in conjunction with other economic development strategies. Industrial clusters are indispensable to rapid economic development. Clusters evolve as a mechanism to gain competitive advantage, when industrial units come together to share knowledge and supplement each other in enhancing strengths. The phenomenon of clustering is known to have created a high degree of networking, a market focus, an ambiance of high productivity, excellence, development of skills and creativity. These in turn can lead a firm to technological innovation and its applications.[/b] The present paper makes an attempt to analyse the growth of employment, production, and number of units established, investment and exports of industrial clusters especially of MSMEs in Tamilnadu.[/b]