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Technological innovations in India play a very important role in the overall growth and development of a country. The technology can be developed by own research or it can be purchased through indigenous or imported sources. When we purchase technology it is commonly called technology transfer. The main purpose behind the technology transfer is the use of knowledge. with the help of agreement between states. The government of India is liberalizing the markets for the free flow of investment in India markets. our government issues list of industries where foreign investment is permitted. In our country a broad technology base is made but there is need to update the production of technology due to the advancement made out in the developed countries of the world.