As part of its review of Comparative National Innovation Policies: Best Practice for the 21st Century, the Board on Science, Technology, and Economic Policy convened a major symposium in Washington to examine the policy changes that have contributed to India's enhanced innovative capacity. This major event, organized in cooperation with the Confederation of Indian Industry, was particularly timely given President Bush's March 2006 visit to India and the Joint Statement issued with the Indian government calling for strategic cooperation in innovation and the development of advanced technologies. The conference, which brought together leading figures from the public and private sectors from both India and the United States, identified accomplishments and existing challenges in the Indian innovation system and reviewed synergies and opportunities for enhanced cooperation between the Indian and U.S. innovation systems. This report on the conference contains three elements: a summary of the key symposium presentations, an introductory chapter analyzing the policy issues raised at the symposium, and a research paper providing a detailed examination of India's knowledge economy, placing it in terms of overall global trends and analyzing its challenges and opportunities.