As part of its review of Comparative Innovation Policy: Best Practice for the 21st Century, the Board on Science, Technology, and Economic Policy (STEP) convened a symposium in 2006 to examine the policy changes that have contributed to India's enhanced innovative capacity. Convening leaders from the public and private sectors in India and the U.S., the symposium identified accomplishments and existing challenges in the Indian innovation system and reviewed opportunities for enhanced cooperation between the two countries. This report summarizes the symposium presentations, along with an introductory analysis of policy issues raised at the symposium and a research paper examining India’s knowledge economy.