Economic Reforms and Fourth Industrial Revolution in South Asia: Post-pandemic SDG 2030 agenda

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Hossain, M
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Hossain, Moazzem

Selvanathan, Eliyathamby A

Jaysinghe, Maneka

Selvanathan, Saroja

Kathuria, Rajat

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2025
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Abstract

According to health experts of the world, one day, COVID-19, Alfa, Delta, or whatever would settle; is it time now to think about the Fourth Industrial Revolution and the SDGs 2030 Agenda in the post-pandemic era? Industry and agriculture are important to the developing economies, preparing nations for their next stage of growth, and wealth creation is not an exception. India took off almost with high growth, and it remains to be seen in a few years’ time how it lands, soft or hard, in a lengthy post-COVID-19 period. As one knows, economies run in cycles: expansionary, peak, and contractionary. The truth is policymakers want to keep expanding an economy as long as possible without pause or interruption. Economists are of the view that historically, the now Organization for Economic Cooperation and Development (OECD) nations took almost 200 years to reach peak, but East Asian nations took only 30-40 years to reach this level and were keeping climbing with a 6 to 7 per cent rate of growth. The OECD member nations, however, went in opposite directions: the former went strong and the latter went slow. Historically, the nations that had experienced industrial revolutions also saw two great wars in the 20th century, and before that, they were at war between themselves and their colonies. There was growth, but slow and steady. Finally, post-Second World War Japan and Germany, two defeated forces, took the lead to become industrialized with the support of the winners of the war, particularly the United States. On the other hand, the colonies of Asia, Africa, and Latin America at last got freedom from the clutches of centuries-old colonial masters. The newly industrialized countries of East and Southeast Asia went for the big bang. The present chapter demonstrates how the Fourth Industrial Revolution took shape in South Asia in the post-COVID-19 period.

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South Asian Economic Development in the Era of Global Turbulence

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3rd

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Hossain, M, Economic Reforms and Fourth Industrial Revolution in South Asia: Post-pandemic SDG 2030 agenda, South Asian Economic Development in the Era of Global Turbulence, 2025, 3rd, pp. 81-86

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