2nd Annual Senior Care Conclave

Aging in the New Times: Inequalities, Involvement and Policies

1st October 2019: India Habitat Centre, New Delhi

Every second two people in the world turn 60- UN

The world’s population is ageing: virtually every country in the world is experiencing growth in the number and proportion of older persons in their population.

Older persons are increasingly seen as contributors to development, whose abilities to act for the betterment of themselves and their societies should be woven into policies and programmes at all levels. In the coming decades many countries are likely to face fiscal and political pressures in relation to public systems of health care, pensions and social protections for a growing older population.

According to data from World Population Prospects: the 2019 Revision, by 2050, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). By 2050, one in four persons living in Europe and Northern America could be aged 65 or over. In 2018, for the first time in history, persons aged 65 or above outnumbered children under five years of age globally. The number of persons aged 80 years or over is projected to triple, from 143 million in 2019 to 426 million in 2050.

The fast growing elderly population, for a developing country like India, may pose mounting pressures on various socio-economic fronts including pension outlays, health care expenditures, fiscal discipline, saving levels, etc. Again, this segment of population faces multiple medical and psychological problems and therefore is becoming a major concern for the policy makers during the last two decades. These concerns of the changing demographic, financing and improving liquidity, raising the voices and concerns of the elderly and convergence within the industry were brought up at ASLI’s 2nd Annual Senior Care Conclave, held on the 1st of October, 2019 in New Delhi organized in collaboration with HelpAge India and CII.

Mr Mansur Dalal, Chairman,ASLI highlighted the opportunity that lies with the stakeholders across the spectrum with social entrepreneurship & empathy for seniors to unlock the huge untapped potential of the Senior Care & Senior Living Sector.

CommonAge, a leader in working for the purpose of improving the quality of life for older citizens in Commonwealth countries, signed an MOU with ASLI for sharing their knowledge & best practices.

(Left To Right)

Mr. Mansur Dalal, Founder & Chairman, ASLI with Mr.Andrew L’arpent Chairman, CommonAge

Acknowledging the need for convergence within the Senior Care sector, Dr Vinod K. Paul, Member, NITI Aayog, added that “We are at a point in our country where without convergence the big issues cannot be handled.” He further highlighted that as the younger generation we owe to our elderly the very best with the very fact that the care of the elderly is inter sectoral.

Shri Durga Shanker Mishra, Secretary, Ministry of Housing and Urban Affairs highlighted the importance of the sector and the existing growth potential.

ASLI presented life time achievement award to Mr. Mathew Cherian,CEO HelpAge India. In appreciation for his unrelenting efforts & continuous contributions to the betterment of Senior Living & Care in India.

(Left To Right)

Mansur Dalal, Founder & Chairman, ASLI, Mr. Vinod K. Paul, Member NITI Aayog, Mr. Kiran Karnik, Chairperson, Helpage India, Mr Mathew Cherian, CEO, HelpAge India

The report titled, “Unlocking the potential of the Senior Consumer Market” was released at the conclave. The report covers the consumer market in India and how the services being offered are constantly expanding creating a platform for further opportunities.