The transition to industry 4.0 implies increasing labour productivity, increase in competitiveness and economic growth at both micro and macro levels.
The fourth industrial revolution was spurred by a signiﬁcant inﬂuence of the mobile internet, cloud technology, computing power use of big data, new energy sources and new technologies. These developments increased labour productivity and the variety of products, which will lead to economic growth. According to data from The World Economic Forum (WEF), by 2025, an “estimated 97 million new jobs will emerge and 85 million others will be displaced by a shift in the division of labour between humans and machines.”
However, despite automation and digitalisation, some professions cannot be replaced by robots and will appear on the labour market, which will continue to require certain new skills and knowledge.
With this context, CII is organizing a Conference on Building workforce for Industry 4.0: The Demand Supply Conundrum on 20 June 2023 in Mumbai, with a focus on initiating discussion on future of work and building skilled workforce aligned to industry 4.0 on a global scale, especially among G20 countries.
The Summit will bring together Industry captains, policymakers, Chair and Co-Chair of B20 Task Force and members from across G20 countries, along with International and national domain experts.