Mumbai Mar 27 PTI The 21st century is going to be an era of knowledge Union education minister Dharmendra Pradhan said Sunday and asked IIT Bombay to take a lead role in advancing new frontiers of knowledgeThe minister who inaugurated a new hostel in the Indian Institute of Technology IIT Bombay campus said knowledge-based economy and service sector-based economy is a reality nowStudents who have passed out from IIT Bombay should strive to become employers and entrepreneurs rather than employees the minister saidIIT Bombay is synonymous with excellence The institutes thrust on research innovation and entrepreneurship interdisciplinary dual degree programmes in digital health environment green energy and data science will redefine Indias position in the 21st century knowledge economy he saidThe minister asked IIT Bombay to take a lead role in advancing new frontiers of knowledge nurturing innovators of tomorrow to bring positive change in human lives and attract Indian diaspora and international studentsThe hostel is equipped with modern facilities like LAN wifi and includes a gymnasium music room students council room and emergency public address system PTI VT VT VT