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Peace is an active and dynamic state in which one gets the opportunity to move forward towards the development without confusion. Peace entails the absence of conflicts, disputes, dissensions, fight and struggle. Harmony, cooperation, love, integration are the chief characteristics of the state of peace. Peace is a dynamic state and not a situation of the status quo. In a state of peace, man aspects the reality of VasudhaivKutumbakam. Within a state of peace, efforts are made for healthy coexistence to extend the welfare of the people. Peace is an active and dynamic state in which there is call to go forward. It is the pathway to progress without any fear and confusion. Education, likewise is the process that helps in making ones life purposeful. All constructive and welfare conditions that may be required for the purpose are also inherent in this process. The ultimate goal of education according to many philosophies including Vedic-Hindu is the attainment of Mukti or Moksha or Nirvana, which is considered as the highest stage of peace. Therefore, we can say that education and peace are interlinked. They are inseparable from each other. From this emerges the concept of peace education. * Assistant Professor, Khalsa College of Education, Amritsar

People all over the world crave for peace. The educationists, politicians and the leaders of the world are trying their best to achieve world peace, but they face many problems. Many advanced countries of the world try to dominate the weaker ones, exploit them and capture their trade, thereby, decreasing the possibilities of world peace. Achieving world peace will remain a dream until they try to achieve peace at the local and global level. Hence, some measures should be taken to achieve peace at the national and international levels. It is here that the philosophy of Mahatma Gandhi shows us a ray of light for achieving peace. There is no way to peace, peace is the way.

Based on 9,281 firm‐level survey data on micro, small, and medium enterprises (MSMEs) in India, this study investigates the firm‐level characteristics, that is, finance, competition, and human capital on innovation. The proxy for innovation is: if the firm has introduced a new product in the market, introduced a new process in the organization, made some changes in the organization structure, or introduced a new marketing method. We find that firms, spending money on formal research and giving time to employees to innovate, have a higher number of competitors, sell at a national level, and have access to overdraft facilities are associated with higher firm innovation. We rely on firm‐level survey data from the World Bank Enterprise Survey (WBES) for this study.

Purpose
Based on 9,281 firm-level survey data on micro, small and medium enterprises (MSMEs) in India, this study aims to investigate how access to different finance sources and collateral requirement facilitates the firm's innovation activity across industries.


Design/methodology/approach
This paper used ordered logit regression models using Stata software for explanatory variables to measure the impact of explanatory variables on firm innovation performance. Firms' innovation performance is measured through the aggregate innovation index obtained by adding up the no. of "new-to-firm" activities.


Findings
The empirical results reveal that external sources of funding impact innovation activity than other financing sources. Also, the requirement of collateral for financing impacts innovation performance significantly. This paper finds that firms funded by state-owned banks or government agency are more actively engaged in innovation activities. The firm's size, ownership structure and location of the firm also show the varying innovation performance. This paper found variation in innovation performance across industries as well.


Practical implications
First, the present study underlines the significance of funding sources. Second, minimizing the need for collateral to obtain external finance boosts small firms' innovation activity and will also trigger overall economic growth. Finally, while making policies for ownership transformation of state-owned institutions, policymakers should discuss these policies' impact on innovative firms.


Originality/value
What facilitates innovation performance in an emerging market is missing in the literature for MSMEs, largely due to lack of data. It is reasonable not to generalize innovation knowledge in large firms to small firms because of the constraints, particularly MSMEs face.