Technology Transfer in 2 Wheeler Automobile Companies in India

MANAGEMENT OF TECHNOLOGY TRANSFER AND ABSORPTION

Technology Transfer in 2 Wheeler Automobile Companies in India

Technology transfer is not new but has been in existence for a long time. In recent decades, a concerted effort has been made to exploit the existing technology to a larger extent by transfer of technology, to generate greater economic impetus. It provides opportunity to generate larger returns on the investments made in R&D. Its importance lies in its ability to stimulate and strengthen the innovation process.

In common parlance, technology transfer can be stated as an exchange of expertise and technology/knowledge from possessor to the recipient of technology. There are two ways of making a transfer: either purchase it or develop it. By definition, a transfer of technology means a definite change – in process, in product, in power, in attitude, in want and desires, and also in situations that are political, social, economic, or environmental. Technology transfer occurs because of the existence of buyers (transferees) and the sellers (transferor). In today’s world transfer is mostly from developed country to the developing country. This process is important in balancing the technological disparity and for the overall advancement on worldwide basis. Undeniably, technology has emerged as a crucial factor in development of markets, which are ever evolving and subject to change at every instant. For any nation/firm to remain competitive in the market and achieve its goals, it is necessary to stay in constant touch with the latest technology and latest consumer needs and requirements. The development experiences of developed nation demonstrate that the technology contributes more to production and productivity than physical inputs like labour and capital. Thus the technology transfer has been of great significance in view of bridging technological gaps and enabling underdeveloped countries to accelerate the tempo of development at par with developed...