Main Article Content
Abstract
Several theoretical models (Lucas 1988, 1993; Grossman and Helpman 1991) and empirical studies (Griliches, 1984; Mansfield, 1995) have pointed out that spending on innovation is positively associated with economic growth. Literature further illustrates different channels whereby manufacturing firms promotes innovation. In the present paper an attempt has been made to analyze the pattern of innovation in Indian organized manufacturing firms. The study is based on firm level aggregated data of 12222 manufacturing firms extracted from Prowess Database for the period 2000 to 2016.