MANAGERIAL ECONOMICS PROJECT 01
IMPACT OF TECHNOLOGICAL TRANSFER AND LIKELY TECHNOLOGICAL CHANGE
Technology transfer is defined as the process of sharing of ideas, skills, knowledge, technologies, methods of manufacturing, samples of manufacturing and improved and modern facilities among various governments and other institutions to ensure that scientific and technological developments are accessible to a wider range of users who can then further develop and exploit the technology into new products, processes, applications, materials or services. These goods and services help provide mutual benefit to society at large. Technology transfer is considered a subset of ‘Knowledge Transfer’.
TECHNOLOGY TRANSFER IN INDIA
* The beginning
The government, post independence initially focussed only on sectors such as security, healthcare and agriculture as its emphasis lay primarily on public research. India followed an economic policy aimed primarily at the welfare of the citizens and there was no importance attached to technology transfer. Everything was centralized and there were rigid restrictions imposed on the private sector. The liberalization policy of 1991 opened the door for the development of technology and research as it allowed global investment in research. Since then, technology transfer in India has been a combined effort by the public and the private sector. Global sharing of improved and innovative technology has been responsible for advancements in the IT, engineering and mining sectors amongst many others.
* The need for public-private partnership
The private sector in India is expected to fill in the void created by the slow withdrawal of the public sector after the liberalization policy in 1991. The growth rate has been diminishing and hence private investment is encouraged so as to boost profits. Private firms operate with a...
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