'India is going to be a knowledge based economy in the near future'. Discuss

India is soon emerging as a knowledge bank. World Bank in its recent report states that India should make a transition to be knowledge economy and if it uses its knowledge as much as Ireland does, then the per capita income of India will increase from a little over US $ 1000 in 2002 to US $ 3000 in 2020.
The Indian software industry has been showing an impressive record over the past decade. The use of e-mail, e-governance and development of information technology shows that India is slowly transforming itself into a knowledge based economy.