The tripartite ‘Dialouge’ on the ‘Role of Design’ represents an increasing interest in areas like product innovation and product development. The topic was prompted by the earlier discussions when the role of engineering design was discussed in a joint meeting between IIT faculty and the planning commission. At the meeting, the IIT faculty presented their perceptions of the new and important role that design is playing in modern business at the international level. The views of the faculty were also presented in the form of a report. It was pointed out then that most national and multi-national corporations use design as a strategic tool to develop loyal customer segments in the cutthroat international competition. Design has also played a significant role in revolutionising manufacturing technology to reduce the cost of new products, quicken production, conserve energy, and save materials used. Design has indirectly brought about substantial improvements in productivity.