Industries, all over the globe are getting ready for the fourth revolution, INDUSTRY 4.0.This includes the key technologies and concepts like Collection of real time data, organizing data, analyze and make analyzed data available for decision support. This requires the strong knowledge of sensors, transducers, embedded system, protocols and cloud concepts and services, Mobile Application, Big data analytics, protocols etc. Industry 4.0 approach will have a phenomenal impact on the business models as well as on the skillset requirements of people. Industry 4.0 is a transition and needs change management from top floor to shop floor. A combination of professional competencies, a collection of technical knowledge, skills and abilities, combined with interpersonal behaviors and qualities and most importantly being a flexible, lifelong learner is the need of the hour.