India embarking on 4th industrial revolution: Suresh Prabhu

New Delhi, Oct 6 (IANS) India is being propelled towards a fourth industrial revolution arising out of assimilation of digitisation and technology, which will benefit all sections of society, Railway Minister Suresh Prabhu said here on Thursday.

"Assimilation of technology, digitisation, data is propelling the fourth industrial revolution. India poised to benefit, grow," Prabhu said at the World Economic Forum’s annual India Economic Summit.

"While embarking on the fourth industrial revolution, we need to take all sections of the society along, must benefit people," he added.

The digitisation, apart from helping India be adept with the global outlook, will also help provide "local solutions to unique local problems", he said.

Focussing on the necessity of skill development and promoting startups in the country, which will supplement the industrial revolution, he said the right ecoysystem and support structure is a must.

"Skill development is a key area industrial activity should supplement. Governement initiatives like Make in India will facilitate it in a big way," he said.

"We need to encourage start ups. Right ecosystem, support structure, encouraging ideas ahead of its time needed," he added.