Govt eyes new factory clusters

The government is planning to develop new manufacturing clusters near ports across India, aiming to boost industrial growth and position India as a global maritime leader. This includes mega shipbuilding projects and the creation of industrial corridors.

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would benefit the most. "Clustering can encourage division of labour among firms with geographical proximity among numerous competing producers, fostering innovation," said Manoranjan Sharma, chief economist at Infomerics Ratings and former chief economist at Canara Bank.

"Identifiable locations/product clusters (are typically) developed based on the historical accumulation of skills and the availability of a low-cost abundant resource endowment-e.g., handloom, carpet weaving, coir, pottery, cane, bamboo, metal, leather," Sharma said.

A finance ministry spokesperson didn't respond to emailed queries.

Among sectors, industrial clusters along ports would be developed as key manufacturing centres that will produce various goods apart from shipbuilding factories.