India’s Advancement in Agriculture, Technology, and Management—What Next, and Why?

Ajit Kumar¹, Sanjeev Maskara²

¹Goa Institute of Management, Ribandar, India.
²The Practice PLC, Amersham, UK.

DOI: 10.4236/ojbm.2016.41001                

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.

Keywords

Real GDP, Innovation, Research and Development, Economic Growth, Solow Growth Model, India

Conflicts of Interest

The authors declare no conflicts of interest.

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