Increased Energy and Resources Essential for Enhancing Senior Care in India: Dr. VK Paul
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Bengaluru, Dec 6 (NationPress) There is a pressing need to invest more energy, resources, and engagement to enhance senior care in India. The government is open to receiving ideas from industry leaders, experts, investors, and businesses to help achieve this objective, stated Dr. VK Paul, a member of NITI Aayog, during an event organized by the Association of Senior Living India (ASLI) in Bengaluru.
During the gathering, prominent figures in the senior care sector emphasized the immense potential within this field. Dr. Paul remarked, “Our seniors have played a vital role in shaping this nation, and they deserve special attention, a personalized approach, and a comprehensive strategy for their care. We invite your suggestions on how we can create an effective response that safeguards their physical, digital, and financial security.”
He added, “The government’s expectations from organizations like ASLI are at an all-time high, and we look forward to your innovative ideas, which will assist us in formulating policies that resonate with our objectives and societal values.”
Dr. Paul also discussed NITI Aayog's efforts to develop comprehensive recommendations for the government regarding senior citizen welfare.
“We must channel more energy, resources, and participation. The time is now,” he emphasized.
Forecasts indicate that by 2050, one in five Indians will be classified as a senior citizen. However, the current penetration rate in this sector is only 1.3%, while more developed markets experience a rate of 6%, highlighting a substantial $10–15 billion opportunity for the senior living industry.
ASLI also unveiled results from a survey examining the priorities, behaviors, and aspirations of India’s senior population, conducted in collaboration with McKinsey & Company.
Ankur Gupta, Co-founder of ASLI, mentioned that the survey serves as a wake-up call for all stakeholders to recognize the evolving priorities of India's elderly population.
“As the senior care sector evolves, it is crucial that we focus on the holistic well-being of seniors, addressing their physical, emotional, and social needs,” he stated.
Nithin Kamath, Co-founder and CEO of Zerodha, highlighted that future focus areas would include medical care management and nutrition for senior citizens.
“While today's seniors may not readily embrace AI, caregivers can enhance their efficiency by utilizing automated tools and AI technologies,” he concluded.
