New Delhi, Nov 18 — Leading industry figures have identified the eldercare sector as a significant emerging market, with India poised to play a key role in providing extensive opportunities for investors.
The Association of Senior Living India (ASLI) Chairman, Adarsh Narahari, highlighted the immense potential of the senior care industry in India, acknowledging the challenges it faces, including regulatory frameworks and infrastructure development. As India is projected to become home to one of the world’s largest elderly populations by 2050, estimated at 319 million individuals aged 60 and above, the eldercare sector is undergoing a transformation to address the healthcare and social needs of the aging population.
Industry experts emphasized the need for transformative approaches prioritizing the well-being and dignity of seniors. Morgan Stanley’s Executive Director, Neha Saraf, noted that while the eldercare sector offers enormous opportunities, it is still in its nascent stage.
With urbanization and economic development leading to a shift towards nuclear families, the demand for senior care services is increasing, creating a vast space for investment. Investors and experts discussed building trust, articulating visions, and understanding the needs and wants of the senior population to unlock the sector’s potential. The growing disposable incomes in India contribute to families’ financial means to invest in senior care services, making it a lucrative market for investors.
