banking services chronicle magazine Published this articles page no 110 In Asia countries like Japan and in the later part of 20thcentury South Korea contributed much towards the industrial revolution. However during the last few decades one country that has shown remarkable progress towards industrialization is China. Countries like Israel and India are known to have made some contributions too with Israel playing a major role in the realm of technology development. The main features of these industrial revolutions are as follows l The First Industrial Revolution 1760 – 1840. It was a period which witnessed the emergence of steam engine textile industry and mechanical engineering l The Second Industrial Revolution 1870 – 1914. The revolution was about emergence of railways and steel industry. l The Third Industrial Revolution 1969 – 2000. Electric engine heavy chemicals automobiles and consumer durables made their presence felt during this period. This is an ongoing phase of this industrial revolution which has also been called as Industry 4.0. Developments in the oil industry and the IT industry have led the initial phase of Industry 4.0. At the same time there are various other S & T innovations which are leading the progression of this industrial revolution. banking services chronicle magazine
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