New Delhi, Sept. 25 -- The Small Industries Development Bank of India (SIDBI) has launched a low-cost, innovative, and self-propelling model of cluster development through its national scheme, Development of Industry Associations (DIA), a release stated.

The National Conclave on DIA was inaugurated by M Nagaraju, Secretary DFS, Ministry of Finance, in the national capital.

Nagaraju said that India needs to evolve from being a production hub to an innovation epicentre in areas of its competitive advantages. Cluster development passes through four stages: initiation, establishment, operationalization, and transformation.

Many Indian clusters are in the establishment or operationalisation stage. Nagaraju said industry associations must be...