Knowledge most powerful tool for India to become USD 5 trillion economy: Gadkari

Pune: Knowledge is the most powerful tool for India to become a USD 5 trillion economy and the third largest economy in the world, Union Minister Nitin Gadkari said on Monday.

Speaking at an event in the Indian Institute of Technology Bombay, he said the future of any country is based on the type of futuristic technology it possesses.

"The IITs and its students have have a great contribution towards the country's development and progress. While working in the government, if we face any challenge, we refer it to the IITs first. The credibility of IITs is so good that the solution we get is widely accepted. In a nutshell, you are the capital of knowledge," the Union minister said.

"The progress of the country, resources, technologies are important but what is more important is the futuristic technology and knowledge. The future of any country is based on what type of futuristic technology it possesses," he added.

Prime Minister Narendra Modi has put forth a target in the form of a mission and that is making India a USD 5 trillion economy and the third largest economy in the world, Gadkari said.

'If we want to become a USD 5 trillion economy and third largest economy, knowledge will be the most powerful tool," the Union minster for road transport and highways said.

Gadkari said entrepreneurship, science, technology, research, skill and best practices are cumulatively referred to as knowledge and the conversion of this knowledge into wealth is the future.