Exponential Technology, Industry 4.0 and Future of Jobs in India

Advance in technology leads to economic growth, and in turn to creation of new jobs, while making some old jobs obsolete. However, the rise of exponential technologies such as mobile internet, internet of things, big data analytics, artificial intelligence, etc. is disrupting this cycle dramatically, affecting jobs that used brawn as well as brain. This article analyses the impact of this shift in the Indian context and suggests several policy measures for government, industry and also institutions to prepare for the future of jobs in India, so that we do not face the grim prospect of jobless Indian growth. JEL: O00, 038, E24.