OJBM  Vol.4 No.1 , January 2016
India’s Advancement in Agriculture, Technology, and Management—What Next, and Why?
ABSTRACT
In the recent years, the economic stagnation of India has raised grave concern among Indian leaders. They have identified the causes and are taking remedial measures accordingly. However, we think, these curative actions would serve ad hoc, and the Indian government needs to take steps towards the sustainable growth. Many people in leadership have already pointed out that India needs to focus on innovation for its further growth. However, their argument often lacks the justification why innovation is an urgent need for India. India is often compared with China. Some people argue as China has focused on research, India should compete. The statement—other countries are investing in innovation so India should—is neither convincing nor helpful. Therefore, in this paper, we would illustrate the Solow Growth Model in the Indian context, which would provide some convincing insights that innovation is the next required measure for the sustainable growth of India.

Cite this paper
Kumar, A. and Maskara, S. (2016) India’s Advancement in Agriculture, Technology, and Management—What Next, and Why?. Open Journal of Business and Management, 4, 1-6. doi: 10.4236/ojbm.2016.41001.
References
[1]   BBC (2013) Indian Rupee Falls to New Low against US Dollar. BBC Business News.

[2]   Kumar, A. and Sharma, R. (2013) Why Has Govt Failed to Contain the Falling Rupee? Zee News.

[3]   Wassener, B. (2013) Indian Rupee Falls to Record Low. The New York Times.

[4]   Reuters (2013) Indian Rupee Slumps to Record Low. The Guardian.

[5]   Rodrigues, J., Chakraborty, S. and Balwani, S. (2013) India’s Rupee Plunges Most in 20 Years to Record.

[6]   Planning Commission, G.O.I. (2013) Economy at a Glance: India (1999-2000 to 2012-13)—Graphical View.

[7]   Planning Commission, G.O.I. (2011) Faster, Sustainable, and More Inclusive Growth—An Approach to the Twelfth Five Year Plan.

[8]   Pai, D.C., Tseng, C.Y. and Liou, C.H. (2012) Collaborative Innovation in Emerging Economies: Case of India and China. Innovation, 14, 467-476.

[9]   Kastelle, T., Hu, M.C. and Dodgson, M. (2013) Editorial: Innovation in Taiwan: What Is Next? Innovation, 15, 396-404.
http://dx.doi.org/10.5172/impp.2013.15.4.396

[10]   Desiraju, G.R. (2012) Policy: Bold Strategies for Indian Science. Nature, 484, 159-160.

[11]   Jayaraman, K.S. (2012) India Prepares to Boost Science. Nature Journal.
http://dx.doi.org/10.1038/nature.2012.12135

[12]   Bai, J. and Li, J. (2011) Regional Innovation Efficiency in China: The Role of Local Government. Innovation, 13, 142- 153.
http://dx.doi.org/10.5172/impp.2011.13.2.142

[13]   Solow, R.M. (2000) Growth Theory: An Exposition. OUP Catalogue.

[14]   OECD (2007) Economic Survey of India.

[15]   Dowrick, S. and Rogers, M. (2002) Classical and Technological Convergence: Beyond the Solow-Swan Growth Model. Oxford Economic Papers, 369-385.
http://dx.doi.org/10.1093/oep/54.3.369

[16]   Solow, R.M. (1994) Perspectives on Growth Theory. The Journal of Economic Perspectives, 45-54.
http://dx.doi.org/10.1257/jep.8.1.45

[17]   Solow, R.M. (1988) Growth Theory and After. The American Economic Review, 307-317.

[18]   Fraser-Moleketi, G.J. (2012) Democratic Governance at Times of Crisis: Rebuilding Our Communities and Building on Our Citizens. International Review of Administrative Sciences, 78, 191-208.
http://dx.doi.org/10.1177/0020852312438524

 
 
Top