Industrial Clusters, Human Capital, and Regional Growth

Abstract

This paper describes the influence of industrial cluster that facilitates a firm to expand and enhance its level of performance by accelerating the regional development. It shows that cluster strategies have the potential to pick up the pace of regional economic growth. In today?s global economy cluster strategies play a vibrant role to meet the global challenges by boosting the human capital. An industry cluster is a group of firms, related economic actors, and institutions that are located near one another and that draw productive advantage from their mutual proximity and connections. It is the key to understanding the performance of regional economies and the competitiveness of individual firms. Research shows how small enterprises are enhancing their competitiveness by joining cluster in order to convene global trend and to gain competitive advantages and to achieve better performance than earlier. This paper tries to focus that how industrial cluster speed up the regional economic growth of a fir