As it emerges from the discussions so far, the hallmark of India’s development strategy during the period under review has been its emphasis on import substitution and investment priority for the ‘heavy’ and capital goods industries, S and T infrastructure, and skill formation. This has led to strengthening the national technological capability in terms of the development of technology-embodying inputs. The government has also been pursuing a policy of ‘selective’ import and local adaptation of foreign technology. This may be called an ‘import-adapt’ technology strategy. The aim, as reiterated in the recent Technology Policy Statement, is to seek technological self-reliance through the development of indigenous technology and adaptation of imported technology. The outcome has been largely influenced by the way the complex interaction between the technology factor and the economic environment has been managed.