Application of knowledge-based technology in agriculture and industry could make India a developed nation by 2020 and improve the plight of the 240 million people below the poverty line, according to the President, Dr A.P.J. Abdul Kalam. Inaugurating the annual convention of the Madras Management Association here on Wednesday, the President said that knowledge can add value in agriculture, industry and the services sector. Such a development will need a new approach to increasing prosperity in rural areas.