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CAIRO BOOKS's Description
India's recent growth rate has been impressive, with real GDP rising by over 8
percent a year since 2004. The country is also becoming a top global innovator
for high-tech products and services. Still, India is underperforming relative
to its innovation potential. Even a dynamic young population--more than half of
whom are under 25 years of age--is constrained when skills training and higher
education are insufficient. To sustain competitiveness, economic growth, and
rising living standards over the long term, India needs to aggressively harness
its innovation potential. The term innovation is broadly defined in this book
to include both the creation and commercialization of new knowledge and the
diffusion and absorption of existing knowledge in new contexts. A unique
feature is the book's focus on inclusive innovation, that is, knowledge
creation and absorption activities most relevant to the needs of the poor.
Concrete recommendations are made for increasing productivity and welfare
through the disciplining role of competition, including training and education,
information infrastructure, and public and private finance as support
mechanisms for broad-based innovation. Unleashing India's Innovation: Toward
Sustainable and Inclusive Growth provides national and local policy makers,
private sector enterprises, academic and research institutions, international
organizations, and civil society with a better understanding of the power of
innovation to fuel economic growth and poverty reduction.