“Now the focus is also on Industry 4.0 or the Fourth Industrial Revolution sectors such as artificial intelligence, innovations, startups and big data analytics. These will change the face of how the businesses look today and they will create jobs. One of the big focusses is Industry 4.0,” said the Maharshtra chief minister . 

The situation is particularly acute in developing countries, where three out of four workers lack stable jobs. Those countries are also most affected by widespread working poverty: more than 300 million million workers in emerging and developing countries subsist on household income of less than $1.90 per day in purchasing-power-parity terms. 

“In all likelihood India is going to register higher growth rate than other major emerging market economies in the next decade. So, I wouldn’t focus on the short-term numbers. I would look at the big picture for India and big picture is telling us that it has enormous potential,” Ayhan Kose, Director, Development Prospects Group, World Bank,

On the bright side, China’s Belt and Road program has created some hope of new premium sources for Chinese reinsurers, especially state owned companies that can leverage their state-owned relationship. The early stages of the Belt and Road initiative will bring vast investments in infrastructure—the construction of railroads, highways, and tunnels—as well as developing sectors such as energy and telecommunications.