The world’s most respected Journal on Medical Research ‘The LANCET’ (in print since 1823) has published an extensive study of world population trends upto the year 2100 that is very surprising, if not shocking!
If we were to ask many of the sharpest people in the India (from all domains) about their prediction about India’s population in the year 2100, with today’s population being 140 Cr., my estimate is that more than 99% would estimate it in the range between 150 & 200 Cr.
The answer as per the extensive calculations by Lancet Experts, based on factors like Fertility, Mortality, Migration, etc. is SHOCKING. After peaking at 160 Cr around 2048, India’s population will start declining and will be 109 Cr by the year 2100. The expected populations of top 10 most populous countries are given below.
(https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(20)30677-2/fulltext)
LESSON: Even the very best human minds cannot reach accurate conclusions about important issues without rigorous analysis of data with the right analytical tools.
IMPLICATIONS FOR INDIAN MANUFACTURING:
#1- From the CONCLUSIONS of the Study: The average age of Indians is rising & percentage of young people is falling.
Dependence on Labour has to end. AFFORDABLE AUTOMATION has a very fast ROI because the ‘Real Cost’ of manpower dependence is very high.
#2- From the METHOD used to arrive at the Conclusions: Data analysis gave us the startling findings shown in above infographic.
DATA DRIVEN MANUFACTURING offered by Industry 4.0 technologies should be adopted on TOP priority. Today, majority of manufacturers are tackling issues related to Productivity, Quality & Machine health with old tools.
Tools like Universal Machine Monitoring, Closed Loop Auto-corrected Production & Predictive Maintenance use ‘Real Time’ data analysis to give deep insights that lead to quantum jumps in Productivity, Quality & Machine Heath that are unimaginable without them, just as without data analysis it was un-imaginable that India’s population would reduce to 109 Crores by 2100 & China to 73 Crores!!!
