Bangalore: Azim Premji, head of Wipro group, said on May 21 that the country would soon achieve the status of a developed economy and this will be made possible by the development and deployment of right talent in the public and private services.

Addressing a three-day Annual Bank Conference on Development Economics (ABCDE), Premji said that India needs to build up talent keeping in mind the economic scenario 50 years from now.

"We are not far from it", he said. "ABCDE, which this year has a theme "accelerating development", is into its 15th year and is being held for the first time outside of Washington DC," he stated during the World Bank- sponsored conference.

Premji also emphasised that the challenge before India was to develop human capital at the grass-root level and added that "investments made in education and human developments have cascading, long- term benefits."

Meanwhile, Chief Economist of the World Bank Nicholas Stern in his brief speech said that the event was aimed at exchanging ideas on development. "There have been strong strides, particularly in the last 15 to 20 years, in development economics around the world and we want to learn from success and failure stories".

(ANI) Meta