The fourth Industrial Revolution, popularly known as Industry 4.0, strongly believes that the technology has the potential to change the world of business in the future. In this pandemic era of COVID-19, we must all agree that this outbreak has impacted humanity, businesses & lifestyles of the individuals and economies of nations. In order to increase our sustainability and for future growth, advance technology will be the indispensable part of personal and professional lives of entire human race. According to the data released by the United Nations Conference on Trade and Development, more than 37% of the Foreign Direct Investment (FDI) of the developing countries is following the channel of technology in related sectors. All major countries and business conglomerates are investing huge in the Research & Development activities to make the implementation of industry 4.0 more profound, in order to carve a new industrial growth path, in post – pandemic era.
The impact of industry 4.0 on the modern global economy has already emerged significantly. The fourth Industrial Revolution has unfurled its wings over all industries to impact them positively. The financial sector is thriving due to the positive thrust of digital innovation and financial processes automation all over the world. To remain relevant in the face of rapid technological development, companies across the automotive ecosystem are investing heavily in innovative product and manufacturing process. Aerospace and Defence (A&D) are not alienated to Industry 4.0. According to the global survey conducted by Deloitte, 84 per cent of A&D executives said, they consider leveraging the new digital technology as a key to market differentiation. On the outbreak of Covid-19, a documentary “Farewell to the Global Supply Chain” broadcasted by DW, clearly depicted that the companies in Europe having supply chain extended throughout Asia, especially China; that having a single supplier in one country can be disastrous for their business. Across the globe, strong backlash is building against China for its initial mishandling of the crisis, which worsens the situation of COVID-19 spread thereby creating a deep polarizing battle of narratives against China. This gave a new hope to India, and Industry 4.0 became a new hub for the global supply chain and for the manufacturing sector. In the light of the above situation and keeping the present scenario in the mind, IBMR, IPS Academy Indore (India) proudly announces an e-Conference on “Industry 4.0: Transforming Economy through Innovative Management Practices”. We invite empirical papers, conceptual research papers and case studies from academicians, professionals, consultants, practitioners, scholars and students related to various sub themes of e-Conference.