The reasons were the chaos triggered by the decline of the Mughal empire, colonization by Britain and the first industrial revolution. Like China, India missed out on the industrial revolution which saw the invention of the steam engine and powered looms and unleashed a productivity revolution. Today, we are in the midst of the fourth industrial revolution that promises to be profoundly more disruptive. The consequences of the fourth industrial revolution are truly frightening unless, of course, we learn to ride this wave. The fourth industrial revolution simultaneously poses the biggest opportunity and the largest threat to a prosperous future.

Source: Mint September 18, 2016 17:48 UTC