Chapter

Arbitrage of Thought and Innovation

Kshama V. Kaushik and Kaushik Dutta

in India Means Business

Published in print February 2012 | ISBN: 9780198072614
Published online September 2012 | e-ISBN: 9780199081592 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198072614.003.0006
Arbitrage of Thought and Innovation

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This chapter focuses on the technological innovation and arbitrage of thought of Indian businesses. It explains that arbitrage of thought is a process where the key difference is in having control over an idea or thought to control its access to the ones who do not possess such information. It investigates why India lags behind in innovation and suggests that one of the key factors is that Indian culture has never been comfortable with making money—and innovation is all about commercially exploiting ideas. However, this chapter suggests that there is hope for an innovative India and one of the greatest indicators of innovativeness in India is the state of erstwhile quota/licence companies. It also describes how India has adopted and refined Soviet technologies to suit Indian conditions in several disciplines, including capital goods and agriculture.

Keywords: technological innovation; arbitrage of thought; Indian businesses; innovativeness; quota/license companies; Soviet technologies

Chapter.  15416 words.  Illustrated.

Subjects: Economic History

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