SEEDBED OF NEW INITIATIVES T H R S Technological Innovation in Manufacturing SMES: A Decisive Means of Competitiveness M Bala Subrahmanya The author is the Perhaps innovations Chairman and a Professor of India has and Economics at the Department of the second economic Management Studies, Indian Institute of largest and Science (IISc), Bangalore. . He was diversified the recipient of Commonwealth SME base Fellowship 2000); Japan (next to Foundation Fellowship f late, technological (2004/2005); and China) in innovation has been Fulbright-Nehru assuming increasing Senior Research the global importance as a Fellowship means of (2009/2010). He has economy competition worked as a Visiting between nations Research Fellow at today. across the world. University of Durham, UK (February-July This is because Obviously, National technological Graduate Institute for innovation has the this would Policy Studies potential to induce (GRIPS) Tokyo, Japan growth of offer a (March 2005 - individual firms at February 2006); and at the micro level and potentially University of give a new direction California, Davis, to industry growth rich seedbed USA (September 2009 at the macro level. - April 2010). His field It has emerged as a for of specialization is major explanatory Industrial Economics. factor for why
SEEDBED OF NEW INITIATIVES Technological Innovation in Manufacturing SMES: A Decisive Means of Competitiveness M H Bala Subrahmanya The author is the Chairman and a Professor of Economics at the Department of Management Studies, Indian Institute of Science (IISc), Bangalore. . He was the recipient of Commonwealth Fellowship Japan Foundation Fellowship (2004/2005); and Fulbright-Nehru Senior Research Fellowship (2009/2010). He has worked as a Visiting Research Fellow at University of Durham, UK (February-July 2000); National Graduate Institute for Policy Studies (GRIPS) Tokyo, Japan (March 2005 - February 2006); and at University of California, Davis, USA (September 2009 - April 2010). His field of specialization is Industrial Economics. Perhaps India has the second largest and diversified SME base (next to China) in the global economy today. Obviously, this would offer a potentially rich seedbed for innovations and economic f late, technological innovation has been assuming increasing importance as a means of competition between nations across the world. This is because technological innovation has the potential to induce growth of individual firms at the micro level and give a new direction to industry growth at the macro level. It has emerged as a major explanatory factor for why R T S
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