Mumbai, Aug 11 : Innovation is the "buzz-word" of the 21st century and any society which does not innovate will stagnate, Prime Minister Narendra Modi said here on Saturday.

He said innovations, along with enterprise, shall be the foundation for making India a developed economy and pave the way for a long-term sustainable, technology-led economic growth of the country.

Modi was addressing the 56th annual convocation of the Indian Institute of Technology, Bombay (IIT-B) during its ongoing Diamond Jubilee celebrations here.

The Prime Minister pointed out that India is now looked upon as a nursery of unicorn start-ups (worth more than a billion dollars), for which one of the biggest source of talent in this revolution are the IITs in the country.

"That India is emerging as the hub for start-ups shows the thirst for innovations... We must make India as the most attractive destination for innovations and enterprise," Modi added.

"We must build on this... It will not happen only through government efforts but by youngsters here... The best ideas come in their minds and not in government offices," Modi said.

He appealed to the young IIT graduates to innovate in India. Innovate for humanity -- mitigating climate change to ensure better agricultural productivity, water conservation, clean energy, combat malnutrition, effective waste management and other areas.

Earlier, the IIT-B conferred an honorary Doctor of Science on former alumnus, Romesh T. Wadhvani, the founder-chairman of Symphony Technology Group in California, US.

Modi gave away gold medals to three top distinguished students of IIT-B and silver medals to 43 others in various categories.

Later, Modi inaugurated the new building of the Department of Energy Science and Engineering and the Centre for Environmental Science and Engineering, at the IIT-B, that has been selected as one of the Institutions of Eminence by the government.

Present on the occasion were Maharashtra Governor C.V. Rao, Chief Minister Devendra Fadnavis, Union Human Resource Development Minister Prakash Javadekar, IIT-B Board of Governors Chairman Dilip Shanghvi, IIT-B Director Prof. Devang Khakhar and others.

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New Delhi (PTI): Prime Minister Narendra Modi on Thursday night spoke to Iranian President Masoud Pezeshkian over the phone and discussed the "serious situation" in West Asia.

Modi expressed deep concern over the escalation of tensions in the region and the loss of civilian lives as well as damage to civilian infrastructure.

The prime minister told the Iranian President that the safety and security of Indian nationals, along with the need for unhindered transit of goods and energy, remain India's top priorities.

“Had a conversation with Iranian President, Dr Masoud Pezeshkian, to discuss the serious situation in the region. Expressed deep concern over the escalation of tensions and the loss of civilian lives as well as damage to civilian infrastructure,” Modi said in a post on X.

The prime minister also reiterated India's commitment to peace and stability and urged dialogue and diplomacy to end the crisis.

The prime minister had spoken to leaders of several West Asian countries in the last 10 days in the wake of the coordinated offensive launched against Iran by the United States and Israel, in which the Islamic country's Supreme Leader, Ali Khamenei, was killed last month.

In retaliation, Iran has fired drones and missiles at Israel and US military installations around the Gulf region, including the global business and aviation hubs of Dubai and Doha.

Modi earlier spoke to the leaders of Oman, Kuwait, Bahrain, Saudi Arabia, the UAE, Jordan, Israel and Qatar, and expressed concern over the attacks on their countries, and condemned the violation of some nation’s sovereignty and territorial integrity.

He also discussed the welfare and security of the Indian community residing in those countries.

Around 1 crore Indians live in the Gulf and West Asia. While about 10,000 Indian citizens live, study and work in Iran, more than 40,000 live in Israel.