01252pab a2200145 454500008004000000100002000040245003800060260000900098300001100107362001200118520091700130650002801047650002001075773001101095180718b2003   xxu||||| |||| 00| 0 eng d  aDesai, Ashok V.  aInnovation and the Indian economy  c2003  ap.1-8.  aJan-Mar  aImport liberalisation has cut out much misdirected effort and concentrated industry's resources in areas where it can meet international competition. Some of the uncertainty will be dispelled if the economy is fully liberalised and further liberalisation and its pace are no longer subjects of conjecture and speculation. Technological effort has not necessarily increased; but it is more effectively applied. If progress in this direction is to be continued, further liberalisation of trade and finance is necessary. But even an open economy will not stimulate investment unless future prospects are clear and bright. We know too little about how an open economy is to be stablised. But such stabilisation will make a world of difference to the rate at which India can grow, and to the quality of the growth; it is essential if the creative forces inherent in Indian intellect are to be unleashed. - Reproduced.  aEconomic growth - India  aEconomic growth  aMargin