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The present paper examines how a developing country like India is competing in the nanotechnology race. The authors' study shows that both upstream scientific and technological capabilities and downstream regulatory capabilities are being strengthened. India has clearly made a dent in terms of scientific publications (with the main focus being on nanomaterials), in the 'Technology market' its patenting performance (with the principle focus on nanopolymers and nanocatalysts) though not extraordinary is good compared to other emerging economies spending similar amounts. In the 'Final products' market some biotech and ICT incumbents are moving towards nano but the bulk of the new firms are in the field of nanomaterials.
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