CHENNAI: Union Minister Nitin Gadkari on Monday said knowledge is the true power for the students that drives innovation, entrepreneurship, science, technology, research, and skill.

"The future lies in transforming this knowledge into wealth, a principle that holds significance across every field," he said during the 21st convocation ceremony held at SRM Institute of Science and Technology (SRM IST), Kattankulathur, Chennai near here.

In his address, he stated knowledge is the greatest power of all, it embodies innovation, entrepreneurship, science, technology, research, skills, and successful practices.

"The ability to transform knowledge into wealth will define the future of every nation and every field," he said adding,"Our Prime Minister’s dream is to make India the world’s third-largest economy".

Stating that the true strength of any powerful nation lies in its commitment to futuristic development, in innovation, research, and technology, the minister said, "these are the foundations on which India’s progress and global leadership will be built."

During the function professor Bharat Bhasker, Director, Indian Institute of Management, Ahmedabad was conferred the Honorary Degree of Doctor of Science (Honoris Causa) in recognition of their outstanding contributions to science and technology.

Bharat Bhasker said the country stands at a defining moment of transformation, a transition towards becoming one of the world’s largest economies and a global leader.

"The responsibility of this growth rests on student's shoulders," he added. This year, a total of 15,105 degrees were awarded, comprising 9,324 males, 5,779 females and two transgender at SRM IST.