India has huge opportunity in form of 4th Industrial revolution: DIPP Secy

India has a huge opportunity in the form of Industry 4.0 or the fourth industrial revolution but the country needs to adopt new technologies and provide a facilitative policy framework on a fast-track basis, a senior government official said Tuesday. Speaking here at a session on the sidelines of the World Economic Forum annual meeting, Department of Industrial Policy and Promotion (DIPP)Secretary Ramesh Abhishek said efforts are being made at the central and state government level to provide necessary policy enablers.

He said the small and medium-sized enterprises (SMEs) have the biggest opportunity to leapfrog to the next technology and benefits can be huge for them. Abhishek was speaking at a breakfast session on 'Shaping India's future with Industry 4.0', jointly organised by global consultancy giant Deloitte and industry body CII. At the same session, Deloitte global CEO Punit Renjen said India has a great potential and its businesses are all geared for the Industry 4.0. He also said Deloitte is committed to work towards contributing to society and India would be a major part of this initiative with an estimated one crore people expected to benefit. Renjen said he would be travelling to India next month.