Clusters are geographic concentrations of interconnected companies, specialized suppliers, service providers, firms in related industries and associated institutions that compete but also cooperate. Quality clusters can play a crucial role in enhancing competitiveness. The importance of clusters in the context of emerging industries is likely to be several orders higher. While the concept of “clusters for competitiveness” is quite well received and experimented in a number of developed regions, in India it is often used in the context of traditional industries. Even business practices of successful Indian exporters have been examined, but the context of emerging knowledge-based industries has not been researched adequately. This paper presents findings within backdrop to examine the role of clusters in the context of emerging industries. Efforts will be focused on defining the terms in the relevant context based on secondary data and on evolving and prioritizing key issues.