<p>The efficacious execution of Industry 4.0 capacity in the current competitive global business environment has become the most essential strategy for business success. However, this implementation is subjected to a wide number of organizational, socio-economic, and other business-specific factors. This study focuses on investigating these factors what we called it as enablers, barriers, and barrier counter measures. To map the relationships among these deciding factors and evaluate their impact on realization of I4.0, this research utilizes a well-established research model comprising the subject experts and quantitative analysis tool. The research carried out for an Indian iron and steel manufacturing organization which is globally recognised for its quality product. This research conceptualizes the importance of organizational commitment and resources, the obstructions faced by the manufacturing units, and the capacities to mitigate the obstructions. This study provides a basis for the industry 4.0 through a holistic structured outline that integrates Industry 4.0 supportive factors called enablers, obstructing factors called barriers, and the solution to barriers called countermeasures. These findings will enable the decision makers in prioritizing their actions and resources in the attainment of the industry 4.0 capacity and realization of the business goals. This research provides the future scope to the researchers to broaden the notion of smart manufacturing capacity development by extending the present study to the sub-attributes level that provides efficient control on each of the business-related activities.</p>