The Fourth Industrial Revolution I4.0 in India Challenges and Opportunities

The fourth industrial revolution as it is called, is emerging globally as a powerful force and is being touted as the next industrial revolution. It is characterized by the increasing digitization and interconnection of products, value chains and business models. Industry 4.0 is driven by an amalgamation of emerging technologies like data volumes, computational power, Internet of Things IoT , business analytics, augmented reality, artificial intelligence, elemental design, simulation, advanced robotics, additive manufacturing, sensor based technologies and cyber physical systems. Industry 4.0 would mean the convergence of real and virtual worlds the next phase in bringing together conventional and modern technologies in manufacturing. This will result in the “Smart Factory”, which is characterized by versatility, resource efficiency, ergonomic design and direct integration with business partners for manufacturing. Viraj Vijay Jadhav | Ravindra Mahadeokar | Dr. S. D. Bhoite "The Fourth Industrial Revolution (I4.0) in India: Challenges & Opportunities" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Special Issue | Fostering Innovation, Integration and Inclusion Through Interdisciplinary Practices in Management , March 2019, URL: https://www.ijtsrd.com/papers/ijtsrd23076.pdf