A strategic framework has been presented for creating sustainable innovations relevant to automotive technologies in India. The framework utilizes diverse inputs like business strategy, competitive analysis, technology roadmaps and IP strategy. This framework helps the technology organization to respond to the megatrends in the Industry. The structured approach is described for critical processes like technology road-mapping, IP creation and IP portfolio management. Creating a synergy between the three strategic elements - business, technology and IP - fosters sustainable innovations in the automotive industry. This framework can be adopted at super system, system and sub system levels for developing profitable innovative products / processes and driving business growth. Hypothetical case study of ABC Ltd has been presented using this framework with concluding recommendations.