With each phase of industrial revolution, the interaction between humans and technology have evolved and context of work has changed, calling for new approaches to leadership. The fourth industrial revolution (Industry 4.0) calls for responsive and digital leaders who can navigate through complex adaptive systems where direction, decision and innovation emerge from connected ecosystem & diverse agents. However, Industry 4.0 tends to overlook the importance of human-value dimensions, sustainability, and social fairness and hence a paradigm shift towards Industry 5.0 will focus shifts from a techno-deterministic rationale to human-deterministic rationale. Industry 5.0 seeks to combine consistency and speed of collaborative machines with resourcefulness and creativity of humans for the mutual benefit of industry and workforce. Thus, with a focus on manufacturing industry, this paper focuses on identifying the gap in leadership literature and emphasises on the need to identify how leadership should evolve to address the changing dynamics between human-machine co-working in manufacturing that is expected in the era of Industry 5.0.