International Transfer Of Technology: Need For Appropriate National Policy

Technology as embodied in production process is an essential element to achieve accelerated economic growth. Over the years, the tremendous progress of science and technology and their increasing application in production process have accelerated technology transactions among nation states, but the comparative estimates of benefits and costs of international transfer of technology, especially from the developed to developing countries have given rise to series of debates throughout the world. The benefits emerging from transfer of foreign technology depends on the appropriateness of technology transferred, the costs and the various conditions associated with the technology transferred. The present work analyses, as a first step, the costs and benefits of international transfer of technology and the appropriateness of technology transferred. It also considers the various national and international, social, political, legal and economic problems and the very structural defects in the international technology transfer system. further, it evaluates the existing national and international regulatory measures in respect of transfer of technology. Finally the study makes an attempt to highlight the outstanding issues to be considered at each and every step for smooth international transfer of technology and thereby national economic development.