Topic– Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
7) Having missed the first three industrial revolutions, India is now in a position to lead the fourth. Comment.(250 words)
Why this question
India is at the critical junction of history. It is the fastest growing major economy with a huge demographic dividend. In the wake of the start of fourth Industrial revolution it is essential to discuss India’s strengths and limitations to become a leader of the 4G world.
Comment- here we have to express our knowledge and understanding of the issue and form an overall opinion thereupon.
Key demand of the question.
The question wants us to express our opinion as to whether India is rightly placed to lead the 4th industrial revolution. We have to form our opinion based on a proper discussion and presentation of valid arguments and facts.
Structure of the answer
Introduction- write a few introductory lines about the fourth industrial revolution.
Mention that India languished on the fringes during the first two industrial revolutions powered by coal and steam and electricity and oil, respectively, and only started playing catch-up in the computer-driven third industrial revolution.
- Discuss the scope of India leading the fourth industrial revolution. E.g mention the strengths of India. E.g a large demographic dividend and a huge tech savvy youth population; a democracy that is run on the model of equitable and inclusive growth; It is a rich and fertile ground for entrepreneurship and has emerged as the fastest growing startup base worldwide; the nation is home to the third largest number of technology-driven startups in the world etc.
- Discuss the limitations faced by India in this regard. E.g stiff competition from other countries; high unemployment levels and high incidences of poverty etc.
Conclusion– based on your discussion, form a fair and a balanced conclusion on the given issue. E.g India needs to prepare itself for a period of information and digital abundance, adapt itself to the scorching pace of innovation and learn to collaborate on scale, quickly transform the idea into a breakthrough innovation, shift from a system of time-bound education to a mode of continuous learning and create more employment opportunities than what new and disruptive technologies take away.