The paper deals with recent research study conducted to understand the impact of technology management for growth of SMEs. The research study revealed that the technology management strategies are well integrated into corporate / business unit strategy for product / process innovations through R&D. Technology Applications adopted for Systematic use of IT tools for product / process development and Technology Acquisition by entering strategic alliances to develop or acquire potential technologies. SMEs have confirmed the trend of effective usage of technology management for growth of organisations through product / process innovations.

Keywords : Performance of SMEs, Technology Management Strategies, Usage of Application of IT Tools and Technology, Technology Acquisition, Engineering Sectors, Strategies for R&D, Product / Process Innovations.