Jaipur, Dec 11 (IANS): Union Education Minister Dharmendra Pradhan said on Wednesday that India is poised to become the world's most powerful economy by 2047, with Rajasthan leading the way as a prominent state under Prime Minister Narendra Modi's leadership.

Union Minister Pradhan said, "Just as the Gulf countries serve as hubs of the global economy, Jaipur and Jaisalmer are destined to serve as economic centres of the world economy in the future, with this summit playing a pivotal role in shaping that vision."

Highlighting the entrepreneurial spirit of Rajasthan, he noted that entrepreneurs from the state have established themselves globally, with every Rajasthani achieving new milestones in economic and social domains.

The Union Minister announced that the Central government would support the establishment of advanced technology labs in Rajasthan's premiere educational institutions, such as IIT Jodhpur and the Central University.

He lauded the state's impressive 11 per cent growth rate, achieved despite its challenging geographical conditions, crediting the hard work and resilience of its people.

Addressing the concluding session of the Rising Rajasthan Global Investment Summit on Wednesday, Minister Pradhan commended the state government for organising the summit in its first year under the leadership of Rajasthan Chief Minister Bhajan Lal Sharma.

He expressed confidence that Rajasthan is setting new benchmarks for development under CM Sharma's leadership.

The Union Minister emphasised that Rajasthan is not just a centre for capital creation but also a knowledge-based economy, boasting world-class institutions such as IIT, IIM, and AIIMS.

He underscored the need for the country to prioritise job creators over job seekers, adding that the entrepreneurial spirit is ingrained in the people of Rajasthan.

Minister Pradhan highlighted that the majority of MoUs signed at the summit pertained to the energy sector, calling it a significant step forward.

He noted that after the US and China, India ranks as one of the top energy consumers globally.

Rajasthan, he said, is leading in green and renewable energy initiatives, with investments in the sector set to provide resources, generate income, and improve infrastructure across the state.

He remarked that Rajasthan, once considered a "BIMARU" state, has transformed into a rising powerhouse, symbolised by its progress and development initiatives.