Commercializing new technologies in India: a perspective on policy initiatives^

Technology is a key resource of profound importance for the well being of a national economy as well as international competitiveness; it is also vital for corporate profitability and growth. Development and commercialization of new technologies has inherent uncertainties and associated risks. In a competitive world of scarce resources, new technologies fight for survival against developed technologies that promise immediate returns with comparatively little risk. Technologists and policy makers need to provide wider perspectives that encourage an entrepreneurial spirit that nurtures new technologies in an enabling environment through appropriate policy initiatives.