In recent years many new international market leaders from the BRICS countries have emerged in diverse manufacturing and service industries. How did these new leaders emerge and become key players in their respective industries? What factors contributed to their success and enabled them to become market leaders? This new study answers these important questions with evidence presented from case studies in the automotive, pharmaceutical and ICT industries of China, India and Brazil. A common framework of analysis is followed throughout the volume allowing readers to compare and contrast the cases examined. This framework brings together factors at the firm, country and sectoral levels to explain the rise to leadership of these firms. The book highlights the importance of vibrant entrepreneurship and demonstrates that being local and having an ability to learn and build capabilities based on local knowledge have been major drivers of market success. Yet it also shows how such firm-level factors have been complemented by the role of both national and sectoral systems of innovation. This book offers an integrated framework for the study of innovation and the rise of market leaders as well as original case studies from important emerging economies.