innovation

Economic growth fueled by the extensive utilization of natural resources and usage of fossil fuels has inflicted severe damage on the environment and resulted in climatic changes, weather extremes, increased temperatures etc. Economies all over the world are facing a tradeoff between achieving high economic growth and mitigating climate change. As economic prosperity and development will always come at the cost of rapid consumption of resources from the environment, the role of technology and the adoption of innovation systems that helps countries to achieve high growth in a sustainable manner are becoming extremely important. While the developed economies have responded to this challenge by adopting a low carbon growth path, the developing economies due to their lack of resources, capital and infrastructure still lag behind. In particular, India is facing the twin challenge of accomplishing high economic growth in order to provide employment to its young and aspiring population while coping up with climate change and energy security. Due to its fossil fuel based energy system it is currently the fourth largest emitter of greenhouse gases after economies like China, United States and the European Union. Currently both public and private players in the India are playing their role in helping India achieve a sustainable growth by investing in research and development, supporting start-up ecosystem, focusing on renewable sources of energy and adopting clean technology. Section I provides an introduction to the paper. Section II discusses the global picture of energy consumption and carbon emissions. Section III stresses on the importance of technology and innovation systems to mitigate the problems of climate change. Section IV discusses the case of India, with emphasis on its energy consumption patterns and the various strategies it has adopted in order to ensure energy security. Section V analyzes the energy ecosystems and the corresponding sectoral innovation system. Section VI concludes the paper and draws three major policy implications. Firstly, given the heavy reliance of India on its conventional sources of energy enhancing the efficiency of this sector is of utmost importance. Second the existence of huge externalities and the presence of market failures in the energy sector must be recognized and woven into the design of India's future energy policy. Also the country needs to formulate strategic plans for its renewable energy sector. Lastly, it suggests that the key to achieving success in India's strategic energy action plan lies in designing an effective implementation strategy. 3

The world is witnessing a paradigm shift in terms of its power structure and structural equations as a result of the emergence of countries like China and other strong Asian economies which are competing with the present order of power and prevalence Western Dominance. The stalemate in the WTO's Doha negotiation and the uprising of mega regional and other regional groupings, marks the emergence of a new era of economic and political associations. The Bay of Bengal and Arabian Sea("BoBAS") Rim countries comprising of India, Indonesia, Bangladesh, Thailand, Myanmar, Sri Lanka, Malaysia and Singapore is an example of one such group that has the potential to emerge as one of the fastest growing regions. These countries are tied together with a multitude of factors like history, culture, demographics, technological development, common set of challenges etc. This paper seeks to evaluate if these countries can combine together their strengths and weaknesses in order to form a regional grouping that can foster economic growth in each of these economies. Further, if India can play a pivotal role and establish itself as a leader which guides the process of growth and development in this "BoBAS" Region. The paper is divided into five sections. Section I is an introduction to the paper. Section II focuses on the evolution of development strategies and the issues that prompt the formation of regional groupings and the integration of economies. Section III discusses the attributes of each of these "BoBAS" Rim economies providing an overview of their growth, trade, investments etc. discussing their complementarities and ability to form a regional group. Section IV analyzes the role of India in stimulating the growth in this region; it begin by understanding the linkages between India and all the "BoBAS" countries and then study the key initiatives by India that might allow it to play a pivotal role in fostering growth in this region. Section V concludes the findings, discusses the challenges and provides a road map for further progress.

All over the world economic activities are being increasingly organized by corporate entities, as governments are withdrawing from economic and welfare activities. Enterprises have become dominant players in all countries despite having variations in their institutional governance systems. The economic resources and technology owned and managed by these enterprises are massive. It is therefore expected that these enterprises should be encouraged and motivated to help mitigate the social and environmental problems of poverty, illiteracy, climate change, etc. By combining the creation of economic value and serving social needs, “shared value” is created. In comparison to corporate social responsibility programmes, shared values, as a concept, become an integral part of the successful corporate strategies of a large number of enterprises. This chapter aims to examine the role of Indian enterprises in creating shared values and meeting social responsibility in India. The chapter uses a content analysis technique to collect information from the latest annual reports, sustainability reports and business responsibility reports of selected companies listed on the Bombay Stock Exchange.