12 Industry4wrd : National Policy on Industry 4.0 GLOBAL OVERVIEW THE INEVITABLE TRANSFORMATION The world is currently amidst a technological transformation that will fundamentally change the way we live and work. It is difficult to predict precisely how this transformation will impact different industries and countries. However, we know that this transformation is unlike anything we have seen before due to the sheer pace and breadth of these changes. Many see these changes as an ushering of new era of growth, change and opportunity. The ramification it brings for manufacturing firms is forcing nations and governments to re-evaluate how the manufacturing industry operates and contributes to economic growth. Nations are now increasing their focus on developing advanced manufacturing capabilities by investing in high-tech infrastructure and quality education. These are done by facilitating the transformation of the manufacturing industry to the next technology frontier and raising their economic wellbeing. The First Industrial Revolution started with the advent of steam and water power, enabling mechanisation of production processes, while the Second Industrial Revolution was driven by electric power and mass manufacturing techniques. Information technology and automation brought in the Third Industrial Revolution. The Fourth Industrial Revolution is exploding on the back of a range of technologies that are blurring the distinction among physical, digital and biological spaces. Industry 4.0 transforms how products are designed, fabricated, used and operated as well as how they are maintained and serviced. It will also transform the operations, processes, supply chain management and energy footprint of factories.