``We are in the cusp of a new millenium and the dawn of the new century will herald the era of knowledge,'' he said at a function organised by the Bombay Management Association (BMA) to confer the `Management Man of the Year' award on him.

He said physical assets would loose their importance as critical components of success and the power of intellect would reign supreme in the advancement of business and industry.

He foresaw a new paradigm for growth in industry which would be brought about by leveraging human capital.

There was no substitute for growth which was critical for sustaining any enterprise, he pointed out adding that business growth depended on people's growth and vice-versa.

Business enterprises were trustees of shareholder's and creditors funds. Their success depended on ethicalcorporate behaviour towards the components they served and amidst the environment they thrived.

``Looking ahead, I see a dramatic and conspicuous change. For our country, the future is pregnant with opportunities and what is required is wit and innovation to leverage the latent potential in the country,'' Dadiseth added.