Introduction Concept of Frugal Innovation: Literature review Scholarly discourse on frugal innovation Bibliometric analysis of published literature Frugality Discourse in Related Scientific Fields Historical and philosophical context of frugality Frugality in political economy Connecting culture with frugality Frugality discourse in other disciplines of social sciences Engineering sciences and frugality Redefining frugal innovation Universal relevance of frugality in today's world Empirical assessment of expert opinion & consumer perception Mapping the frugality paradigm From "good enough" to "affordable green excellence" Role of digital transformation Principles of circular economy Avoiding rebound effects Measure against planned obsolescence India: Learning from a lead market Brief profile of country and its research & innovation system Connecting India to frugal innovations India's lead market potential for frugal solutions Frugal innovations and industrialized economies Factors driving the need (e.g., financial factors, environmental consciousness, changing value systems -> voluntary simplicity) Examples of known frugal solutions (from countries such as Germany, Japan, Austria, USA) Relevance for a large, industrialized economy: Example of Germany(with brief profiles of the country and its research & innovation system; results of an empirical survey) Relevance for a small, industrialized economy: Example of Austria(with brief profiles of the country and its research & innovation system; results of an empirical survey) Modes & routines of frugal product development: lessons from a patent data analysis Comparative study of innovation pathways in Indian and German auto-components industries Discussion of results Identification of suitable (context-specific) innovation pathways Relevant implications for research and innovation systems (for policy makers, managers and scholars of business management) Conclusion