In this paper technology policy of India which has evolved over the years have been introduced as following: Firstly, it is selective and seeks to protect local technology. Secondly, it seeks to reduce to direct costs and individual costs of technology imports by regulating the royalty rates, other payments, the duration and restrictive clauses. Thirdly, it discourages technology imports through foreign direct investment except for complex technology industries. Lastly, it stresses on rapid absorption, and indigenisation and uptradation of the acquired and imported technology.
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