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In the Age of Globalization 4.0: BIMSTEC, Sri Lanka, and Technology

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  • Pratnashree Basu
  • Soumya Bhowmick

Abstract

The age of globalization ushered in by the fourth industrial revolution has completely transformed the way individuals in an economy operate and interact with one another. At the helm of this revolution lies technological innovation. The article tries to evaluate the progress made by member states of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Co-operation (BIMSTEC) with regard to technological enhancement. It also evaluates how Sri Lanka, which has been entrusted with the responsibility of leading the technological revolution in the region has progressed and what challenges lie ahead for the regional bloc. This article explores the importance of technology imports and the high digital skill levels in the workforce, and how these will be instrumental in the economic growth of nations. The last section discusses the gains that member states stand to make if they digitize their economies and parallelly establish necessary regulations.

Suggested Citation

  • Pratnashree Basu & Soumya Bhowmick, 2023. "In the Age of Globalization 4.0: BIMSTEC, Sri Lanka, and Technology," Jadavpur Journal of International Relations, , vol. 27(1), pages 66-89, June.
    • Handle: RePEc:sae:jadint:v:27:y:2023:i:1:p:66-89
    DOI: 10.1177/09735984231161727
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    References listed on IDEAS

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    1. Jörg MAYER, 2000. "Globalization, Technology Tranfer And Skill Accumulation In Low-Income Countries," UNCTAD Discussion Papers 150, United Nations Conference on Trade and Development.
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