He cited India has the potential to provide a workforce of about 4 to 5 crore to the world if the capabilities of the countrymen are honed through proper and dynamic training in skills and added that the government is focussed on this aspect.

Noting that the world and technology is changing fast, the Prime Minister said, "We need to have futuristic vision and prepare plans for the next 10 years” and advocated the need for regular interaction between industry and technology experts.

"If China is like a 'manufacturing factory' of the world, India should become the 'human resource capital' of the world. That should be our target and we should lay emphasis on that," PM Modi stated addressing an event here to launch the 'Skill India' mission which was attended by several union ministers and Chief Ministers of various states.

Observing that there are several developed nations which have wealth but not human resources, he added India, in the near future, will be the only country that can cater to this requirement if proper skills are developed here. "People of India have huge capabilities and this has been recognised the worldover since centuries. We have forgotten the skills. We have to regain those," PM Modi cited, adding the training institutes in India need to be dynamic.

He said while the Indian IITs made a name for themselves globally in the last century, it is the turn of ITIs (Industrial Training Institutes) to do the same this century.

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