Opportunities and Challenges of the New Industrial Revolution

2 Pages Posted: 29 Nov 2017

Date Written: November 26, 2017

Abstract

The term revolution means radical change of existing order in favor of a newer one. Industrial revolution refers to the radical improvement of manufacturing and other technologies that have completely changed the previous scenario and established a newer version with positive shift of industrialization. Experts are forecasting that 4th industrial revolution is taking place in the international arena. As a part and parcel of industrialization Bangladesh have to enter into the 4th industrial revolution to compete and gains its stake from the industrial world. Each change or shift offers something opportunistic and few challenges. Relevant policy makers have to be careful about the opportunities to grab and challenges to overcome of it. Bangladesh has a long list of industrial sectors waiting to take off. Some of the sectors are in performing level like RMG sector; some of the sectors are in growing stage like Leather and leather goods sector, some of the sectors are potential to grow like ICT and Outsourcing. In such a condition 4th industrial revolution is taking place. So we have to be careful about the opportunities and challenges of 4th industrial revolution and prepare proper policies to grab the opportunities at most and overcome the challenges efficiently.

Keywords: Industrialization, Industrial Revolution, 4th Industrial Revolution

JEL Classification: O14

Suggested Citation

Abdin, Md. Joynal, Opportunities and Challenges of the New Industrial Revolution (November 26, 2017). Available at SSRN: https://ssrn.com/abstract=3077456 or http://dx.doi.org/10.2139/ssrn.3077456

Md. Joynal Abdin (Contact Author)

DCCI Business Institute (DBI) ( email )

DCCI Building (11th Floor), 65-66 Motijheel C/A
Dhaka, 1000
Bangladesh

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