New Delhi, April 9 (IANS): Pointing to suicides by farmers as instances of how the root cause of all issues in India was poverty, union Road Transport Minister Nitin Gadkari on Thursday said the country could wipe out poverty by promoting innovation, entrepreneurship and technology.

"In the area of Vidarbha in Maharashtra, over 10,000 farmers have committed suicide. I am working in rural areas and really understand it. Innovation, entrepreneurship and technology can eradicate poverty," he said at the Global Sankalp Summit here, organised by industry chamber Ficci.

Gadkari said about 2,000 small industries are being set up in the Vidarbha region to provide employment to farmers.

He urged Ficci to start a bank of ideas and innovation on the lines of the Bank of Ideas and Innovations launched by the government last year.

Speaking at the event, union Science and Technology Minister Harsh Vardhan said his ministry is promoting an initiative named 'Prism' wherein support is provided to start-ups and individuals for converting innovative ideas into workable models or prototypes.

"Technology Development Board has also collaborated with CII (Confederation of Indian Industry) to create a global innovation technology alliance," he said.