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Title: Innovative India: Lessons from emerging economies
Authors: Chaudhary P
Chauhan R.K.
Keywords: Emerging economies
Economic growth.
Issue Date: 2017
Publisher: Serials Publications
Abstract: The term Emerging Economies envisages a high potential of Economic growth, increased productivity with better quality, led by grass-root innovations. This paper attempts to go through the whole gambit of innovation process from conceptualisation, ideation to theirdissemination, commercialization and utilisation in these economies. Attempt is also made to understand the unique obstacles and opportunities that are faced in all Emerging Markets while attempting to create and implement innovative ideas and products. The paper builds on different cases from some of these countries and extracts from success stories of theirinnovation tohighlight the role of innovation as an essential catalyst of economy. This paper also examines India as an emerging economy striving with the challenges and competitions in this crucial field. It examines different determinants of innovation in India and analyses varying pace for innovative experiments. This leads to an analysis of role that innovationplays in economic growth and technological up gradation in all sectors. The primary source of study and analysis is a comprehensive database to identify the key determinants of innovation in India. Innovation is being given importance in Emerging Economies for the very survival and sustainability of their economies. Some of the major strategic thrusts are growth and socio-development led by innovation. These are considered as major catalysts for highly integrated economies with fierce competition of multinational giants. This paper provides valuable insight into innovation system and innovation policy status in emerging Economies.
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