Innovation & Public Policy in India – Prof. Rakesh Basant Breaks It Down

Prof. Rakesh Basant, former Professor of Economics and Dean of Alumni & External Relations at IIM Ahmedabad, shares key insights from his book The Black Box: Innovation and Public Policy in India. The episode delves into how government policies shape innovation and drive economic growth in the country. Taking the view that all policies influencing technology-related decisions of firms form part of innovation policy, Prof. Basant explores what strategies India should pursue to foster innovation. The book analyses the effects of diverse policy areas, including industry, trade, R&D, foreign direct investment, intellectual property rights, start-ups, and higher education on innovation. Drawing from conceptual and empirical literature across economics, management, and related fields, it examines the complex linkages between innovation and public policy. Combining interdisciplinary insights, the book underscores the challenges of policy design, identifies priority areas, and makes a case for consistency across policy instruments to build an environment conducive to innovation in India. To explore Dr. Rakesh Basant’s research in detail, click here: https://en.wikipedia.org/wiki/Rakesh_Basant This podcast is brought to you by Global Management Consultancy. For more information, please visit www.globalmanagementconsultancy.com. Disclaimer: A. The background music used in this video is the property of its respective developer and is protected by Copyright. Although it is a free version, Business Talk, Global Management Consultancy and Deepak Bhatt do not hold the rights to this music. B. Prof. Rakesh Basant has generously shared profound insights from his book, “The Black Box: Innovation and Public Policy in India,” during his appearance on the Business Talk podcast channel. The uploaded video contains copyrighted material; therefore, any modifications to graphics, music, or the presence of the author or host are strictly prohibited. All content is © 2025. All rights reserved.