Government has said that there is an urgent need for a dynamic and self-sustaining culture of innovation and cluster based approach to boost the Micro Small and Medium Enterprises, MSMEs in the country.

Addressing a summit in New Delhi, Secretary MSME, R. K. Mathur said that the rise of India as a growing power at the global stage will require a thorough realization of innovation in this sector.

He said innovation is a key solution to various challenges being faced by entrepreneurs. Mr. Mathur said the government has adopted a cluster approach as a key strategy for enhancing the productivity and competitiveness in the MSEs sector.

He said the guidelines of the MSE Cluster Development Programme have been comprehensively modified to provide higher support to the sector.

The Secretary said the ministry has been implementing several promotional schemes for better development of small scale industries across the country.

He said the sector will play a pivotal role in the overall industrial economy of the country and constitutes more than 80 percent of the total number of industrial enterprises and industrial development.