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Synopsis rightest spots in India's economic performance in recent years has been the emergence of knowledge-based industries as front-runners in the global market place. The early successes of the software sector are being replicated in a number of other activities such as Business Process Outsourcing (BPO), bio-technology, pharmaceuticals, industrial design, tertiary health-care, etc. There is vast potential in these activities but it is clear that a number of other developing countries have also identified them as areas of focus for the future. In order to prevent an erosion of India's present pre-eminence from these emerging threats, the MTA will identify the factors behind our success and to ensure that we strengthen and creatively build upon them. The entrepreneurial dynamism and competitiveness of these sectors indicate that there are lessons to be learnt about the policy and operating environment that can be fruitfully applied to the less dynamic segments of Indian industry. Equally importantly, IT should be harnessed to improve connectivity and governance in rural areas.