1. Introduction; 2. Evolution of Industrial Revolutions & fusion of technologies in the Fourth Industrial Revolution; 3. Window of opportunity for emerging economies in Fourth Industrial Revolution; 4. Impact of Fourth Industrial Revolution on emerging economies; 5. Emerging economies and the Global Value Chains (GVC); 6. How is India adopting Fourth Industrial Revolution?; 7. How is China adopting Fourth Industrial Revolution?; 8. The Four Challenges For Business Community; 9. Emerging Countries to turn youth and women as assets for Fourth Industrial Revolution; 10. Risks and challenges of adoption of Fourth Industrial Revolution to emerging economies; 11. Risks mitigation; 12. Can Fourth Industrial Revolution be a sustainable revolution; 13. Education and the Fourth Industrial Revolution; 14. Use of technology during COVID-19 pandemic; 15. Conclusion.