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Edited by Philip Cooke, Bjørn Asheim, Ron Boschma, Ron Martin, Dafna Schwartz and Franz Tödtling
Chapter 31: Innovation Systems in Emerging Economies: The Case of India
31 Innovation systems in emerging economies: the case of India Scott Ptak and Sharmistha Bagchi-Sen Today, it is generally accepted that innovation-led economic growth is the most critical component for rising standards of productivity and general welfare among nations (Edquist, 1997). The ‘innovation system’ (IS) approach created by the works of Freeman (1982), Dosi et al. (1988) and Lundvall and Johnson (1994) helps to explain the process by which innovation generates this economic development. Combining a network and evolutionary economic approach, this model is a useful tool for analyzing the way in which discoveries happen, are disseminated, commercialized and utilized in various places and at various scales. The IS model is especially pertinent in understanding growth in today’s knowledge-based economy because a clearer understanding about how innovation works means an increased opportunity to control the outcome of the innovation process. Local, regional, national and even international policies throughout the world aim to harness this power of innovation. In this context, developing countries face unique obstacles and opportunities for achieving growth through innovation. The experience of India demonstrates one way that such an emerging economy has embraced these challenges and opportunities to become one of today’s most relevant hubs for global innovation. India has reined in the processes of the innovation system at various spatial scales to further its goals of economic growth and technological upgrading. This chapter begins with a short focus on the innovation system literature, followed by a direct application of this literature to the challenges and obstacles...
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