The foundation is being recognised for 'pioneering and exemplary philanthropic work around the world and in India in health'.

Gates, however, pointed out that the applications in banking and healthcare is yet to come up in a big way.

Talking about India' infrastructure, Gates said: 'Lack of roads is a big problem. India needs more roads which means more investment, something on the lines of Green Revolution of late 1960s.'

According to him, the government's information and communication technology (ICT) projects for students 'are yet to reach the level required'.

'How different is education today?', he asked.