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In recent years, there have been unprecedented changes in technologies driven by automation, robotics and artificial intelligence, the fusion of which is referred to as the Fourth Industrial Revolution (I-4) with a potential to change the future of work. One of the worldwide concerns is on the employment effects of I-4. There are two scenarios—one called as "automation anxiety" that focuses on labour substitution effects and the other which is "optimistic" of technological complementarity of creating new jobs. Either way, what is certain is that the nature of the future of work will not be the same as it is in the present, and the future workforce needs agile capabilities. The preparation for such a challenge begins with the foundational school education. This paper, after a brief overview of the debate on the impact of I-4 on employment, turns to the issue of the preparedness in India in terms of the foundational education at the school level. Based on the evidence, it documents the deep learning crisis in school education in India and argues for strengthening foundation-level school education through an increase in public investment and public provision that would ensure better capabilities in an equitable way. [ABSTRACT FROM AUTHOR]