London: India is fast developing into a modern economy and the country will become a superpower in Information Technology, pharmaceuticals and auto industry, Sir Rob Young, former British High Commissioner to India, has said.

Speaking at a reception hosted in his honour by Lord Navnit Dholakia and Raj Loomba, Chairman Trustee of the Loomba Trust, at the House of Lords last evening, Sir Young spoke about India's rich cultural diversity, heritage and ancient values and said, "India is now developing fast into a modern economy and it is happening."

Referring to its phenomenal development in the fields of Information Technology, pharmaceuticals and automotive industry, he said, "India will become a superpower in these areas. Question is not will it but when."

At the same time, he said the country still faced many challenges, primarily in social arena.

Lord Dholakia, a trustee of Loomba Trust, said the Trust was currently educating 1,100 children of poor widows in 10 States - Delhi, Orissa, Gujarat, Rajasthan, Punjab, Haryana, Andhra Pradesh, Uttaranchal, Arunachal Pradesh and Tamil Nadu.