Industry 4.0-also known as The Fourth Industrial Revolution, has now crossed borders to become Trade 4.0.
Key points
- Trade 4.0 is a new digital thread transforming international trade.
- When the digitalisation of how we make, transport, or sell is applied to goods crossing international borders, Industry 4.0 becomes Trade 4.0.
- Industry 4.0 refers to collaboration of production and operations techniques with advanced digital technologies—IoT, artificial intelligence (AI), robots, drones, autonomous vehicles, 3D printing, cloud computing, nanotechnology, and more.
- India has a great opportunity as Trade 4.0 gathers momentum. India can benefit from the changing trade landscape and by capturing a greater share of global technology services.
- The government’s role as the creator, facilitator, enforcer and negotiator will be critical in India’s progress towards the Trade 4.0 revolution.
- Trade 4.0 will help India increase its participation in and move up the global value chain by delivering quality products and services using advanced technology.
