ABSTRACT
Industrial clusters have grown and come to stay as hubs of business activity in India, thanks to a large calibrated domestic market for goods. However, our knowledge about their actual functioning remains limited. It is important, hence, to explore the potential of collectivities and understand their functional dynamics. Numerous studies on small firm dynamics, irrespective of whether those were done with a 'cluster framework', have demonstrated the deep-seated complex phenomenon of informality manifesting in a variety of ways. The policy instruments for small and medium enterprises (SME) development, in general, and relevant local economic regeneration in less developed countries, in particular, may benefit from the discussions of detailed case studies of clusters and perspectives emanating thence. Over the last quarter century or so, there has been an increasing awareness across the globe of the complexities that constitute the organization of productive activities, particularly, concerning SME. The chapter presents an overview of key concepts discussed in this book.
