We are ready with our belts tightened for India 4.0: PM Modi

New Delhi: India could not take advantage of the industrial revolution due to colonisation, but the country is now working swiftly on the skill sets and infrastructure required for Industry 4.0, Prime Minister Narendra Modi said
on Monday.

“This is the era of Industry 4.0. India is no longer a slave. It has been 75 years since we gained independence, and therefore, now we are ready with our belts tightened,” Modi said while addressing a summit here.

Industry 4.0 or the fourth industrial revolution refers to the current era of industrial development which is led by connectivity, advanced analytics, automation and advanced manufacturing technology.

“India is working very fast on the required skill sets and infrastructure for India 4.0,” the prime minister said.

Modi stressed that the global economy would benefit from India’s development. “India is a country whose progress does not invoke envy or jealousy from others… the world rejoices from our progress because the entire world benefits from it,” he said.

Referring to the development in digital space, the prime minister said India did not have the first-mover advantage in the era of
the internet.

However, he added that India has provided a new model to the world by democratising technology. He highlighted digital public infrastructure and the JAM trinity—Jan Dhan, Aadhaar and Mobile, which provides a robust system for faster and leakage-free service delivery.

“In the countries that had this advantage, private companies led the digital push. A revolution came, but its benefit was limited. India gave a new model to the world. India democratised technology and showed the world the way to digital public infrastructure,” Modi said.

 The prime minister further added that unified payments interface (UPI) facilitates over 500 million digital transactions every day. “The driving force behind this is not corporations but our small shopkeepers and street vendors,” he said.