Abstract
The article discusses the formation of the India’s national innovation system (NIS), which passes through the phases of protectionism, liberalism and duality. Special attention is paid to the peculiarities of the India’s innovation system based on efficiency indicators, such as gross domestic expenditures on research and development, exports of high-tech products, as well as foreign direct investment in high technology sector. The paper notes that India is one of the most attractive countries for investing in the innovation sector. The author also highlights the negative aspects of NIS development in India, such as imbalances in income and wages, low literacy and high levels of poverty, uneven inflow of foreign investment in different regions, lack of innovation culture in manufactured products, etc. The article especially notes that India after the start of the process of economic liberalization has grown economically in terms of GDP, exports, employment, investment, the inflow of foreign technology and investment, the ICT industry, and the internationalization of investment in research and development sphere.
Highlights
As of today one of the key factors of economic growth is innovation and new technology using
Special attention is paid to the Indian innovation system evolution and effect of liberalization policy to the different economic issues, such as economic growth rate, foreign direct investment (FDI) flow, R&D investments from the foreign companies and etc
The author used official statistics from the Department of Science and Technology of India, the Department of Industrial policy and promotion, as well as official annual reports and government documents such as Towards a Decade of Innovation 2010–2020 made by the National Innovation Council in India, Research and Development Statistics at a Glance 2017–2018 composed by Department of Science and Technology
Summary
As of today one of the key factors of economic growth is innovation and new technology using. Due to India’s liberalization process at the beginning of 1990s there is a special interest to the facts occurred in Indian economy, especially by the end of 1990s. Special attention is paid to the Indian innovation system evolution and effect of liberalization policy to the different economic issues, such as economic growth rate, FDI flow, R&D investments from the foreign companies and etc. Indian researches reckons that India is ready to make a shift from developping to developed country. They suppose, that this level can be reached if economic growth rate more than 8% is remain till 2021
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