A senior care study released by the Confederation of Indian Industries (CII) predicts a trebling of the population of senior citizens in India by 2050, with a consequent increase in senior care products and services.
According to Ankur Gupta, joint managing director of Ashiana Housing Ltd who headed the task force, "The senior population in India is supposed to triple by year 2050 from 2011 and longevity will increase from 67.5 in 2015 to 75.9 in 2050. However, despite such staggering demographics, none of our urban infrastructure are built to keep seniors in mind. Public transport, parks, activities for seniors, friendly side walks and age friendly homes or public spaces lack sensitivity to this age cohort. As aging population increases, we will have to spend lot more of our budget in making infrastructure suitable for seniors”.
"As a services subsector, senior care is in its nascent stage in the Indian economy. Despite close to 130 million seniors in India, there is a clear lack of concerted capacity augmentation and policy support for an industry catering to senior needs. A subject like this is of social significance and it is also important to mobilise the latent business opportunity that lies within the sector," says Chandrajit Banerjee, Director General, CII.
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