Introduction:In the twentieth century, various factors can play a role in the empowerment of some countries at the global arena. It is of prominent importance to discover these factors and assess their relative significance. One of these factors which have distanced these empowered countries from the rest of the world is definitely that of technology impacting different military, economical, social and political fields. This research investigates the impact of scientific and technological developments on economy hence empowering those countries.Research MethodologyThe research methodology adopted is descriptive - analytic and the data - gathering procedure is based on library finding, International websites reviews and interviewing elites.Results and discussionThe analysis of the compiled information indicated that in spite of its massive poor population, time wasting bureaucracy, administrative corruption and likewise problems, India has been able to achieve a notable employment and wealth taking advantage of effective management in the two sectors of "Information & communication technology" and "Biotechnology". Presently, this country is reputed as a emerging power in the global arena. In comparison the organizations in charge of economic and industrial affairs have not been able to fully enjoy the economy based on innovation and technology despite the entire affluent infrastructure in the country.ConclusionThe economy based on technology and innovation holds various advantages like establishing job opportunities for the high educated and preserving them inside the country, attaining revenues, improvement and surpass of economy, development and growth of science and ultimately rising national power in the country which will result in raising the country power in the region and even the world. Accordingly, India can produce a good example for Iran to obtain this target.