India has the potential to become a leading knowledge-based economy with its youth population and growing information technology though it should overcome some barriers in this regard, Manila based funding agency Asian Development Bank (ADB) said in a report released on Friday. “India, with its youthful population and thriving information and communication technology (ICT) industry, can become a leading knowledge-driven economy as long as regulatory, education, and infrastructure barriers are overcome,” ADB said in its report ‘Innovative Asia : Advancing the Knowledge-Based Economy’. The report said pro-poor technologies, growing investment in ICT , advantage in audio-visual services as an outsourcing hub for animation and other skill-intensive industries are few of the promising areas for India. “By leveraging its strengths in human capital and ICT services, India can become a major global knowledge-based economy,” said Bindu N Lohani, ADB Vice-President for Knowledge Management and Sustainable Development.

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