World Economic Forum ties up with Centre, RIL; set to open Mumbai centre to push fourth industrial revolution

It will be the second centre of its kind in the world.

NEW DELHI: The World Economic Forum (WEF) is set to open a Center for Fourth Industrial Revolution (C4IR) in Mumbai, in partnership with the Central government and Reliance Industries. The new Centre will function as a 'sister centre' to the one already operating in California's San Francisco.

WEF's C4IR is a key vessel to its push to usher in what it calls the 'fourth industrial revolution'. The new C4IR centre in Mumbai will be only the second one of its kind. 

A statement from Reliance Industries on the development said, "The C4IR in India will operate as the Sister Center to the World Economic Forum Center for the Fourth Industrial Revolution in San Francisco, allowing policymakers and thought leaders in India to stay ahead of the curve through unique insights in new forms of governance and new technology applications, and connections with cutting-edge technology innovators globally."

"The capability for India to maximise the potential and minimise the risks of the Fourth Industrial revolution, both domestically for its economy and society, and globally as a major economic and social innovator -- and cultural influencer - will be one of the foremost drivers for prosperity and peace over the coming decades," the statement said.

Reliance added that the new C4IR centre would tie in with the Narendra Modi government's Digital India and Startup India initiatives.

Further noting that WEF has identified India as a key partner in its vision for a fourth industrial revolution due to its economic, social and political clout in the region, the statement said, "They have been leading the discussions and shaping the agenda of its potential impact on addressing inclusive growth and solving some of the most pressing challenges facing humanity, by using a combination of multiple technologies and tools.