On October 1, the world observed the International Day for Older Persons. Such observances must not be a sheer ritual of a one-day affair. In India's transient demographic landscape, it is important to acknowledge the challenges and opportunities arising from the increasing older population. The status of the elderly in India is neither one of a silver dividend nor socio-psychologically fulfilling.

“You don’t know what it is to be lonely,” remarked Ratan Tata, who passed away October 9, not long ago as he endorsed a new start-up that facilitates connections between young college graduates and senior citizens for meaningful companionship. This statement holds significant weight as he is a man who has steered the 365 billion-dollar Tata Group for decades and was renowned as one of the world’s foremost philanthropists. Despite being surrounded by admirers and a legion of devoted friends, it’s almost unfathomable that he, too, faced the challenges of ageing.

Lack of intergenerational support and respect for elderly

According to the Report of the Technical Group on Population Projections for India and States 2011-2036, the number of elderly individuals increased by almost 34 million in 2021 compared to the Population Census 2011, and it is projected to rise by approximately 56 million by 2031. This shift is attributed to the fact that the young population, which we celebrate as a demographic dividend, is temporary. As medical care and technology continue to advance, people are living longer. However, the decline of the joint family system has led to financial insecurity, isolation, and emotional neglect for many elderly individuals. This presents a significant demographic challenge as we prepare to accommodate a larger and potentially troubled elderly population in the future.

Not long ago, a 72-year-old man from Bengaluru, who dedicated over five decades of his life working as a hospital watchman to provide for his family, was callously left stranded on the streets. After spending his life savings supporting his three sons, he is reduced to a mere financial and emotional burden, discarded by his family. Regrettably, this is not an isolated incident. This troubling trend indicates viewing the elderly merely as potential resources rather than as cherished family members. This current trend contradicts our treasured traditions of intergenerational support and respect for the elderly and undermines our cultural ideals.

India was ranked 71 out of 96 countries in the Global Age Watch Index (GAWI), which assesses the well-being of older populations. The country scored lowest in the health domain, ranking 87th. According to the NSS data on Social Consumption on Health in India (75th Round, 2017-18), around 70% of elderly individuals had to rely on others for their day-to-day upkeep. 

A report released by HelpAge India on June 15, 2024, which spanned 20 cities in 10 states (including Karnataka) and surveyed over 5,000 senior citizens, revealed that one in three seniors had no income in the past year, and nearly 65% expressed feeling financially insecure. The implications of this financial hardship are far-reaching. As elderly individuals struggle to support themselves, many are forced to seek refuge in old-age homes. The Longitudinal Ageing Survey of India 2020 shows that there are approximately 18 million homeless elderly persons in the country. The number of old-age homes in India is currently estimated at over 720, which is expected to rise significantly in the coming years.

Opportunities and challenges of ageing population

Recent reports of elderly individuals falling victim to sophisticated online scams highlight the severity of cybercriminals exploiting their vulnerability. In one case, a 75-year-old man from Hyderabad lost a staggering Rs 13 crore after being lured into an investment scam. Another incident involved a 72-year-old woman who was tricked into transferring Rs 83 lakh to scammers faking as Mumbai police and CBI officials during a 13-hour video call. Their trust and aspirations were shattered as today’s society changes much faster than their ability to adapt.

The International Day of Older Persons focuses on the opportunities and challenges of an ageing population and advocates for an inclusive society that accommodates the elderly. This year's theme, Ageing with Dignity: Strengthening Care and Support Systems for Older Persons Worldwide, attempts to guarantee that elderly individuals can live with dignity and receive the support they need.

The ageing population requires specialised industries and services, including psychological support, healthcare solutions, and financial planning. The market for elderly care was valued at US$ 25.7 billion in 2021 and is projected to double at a 7% annual growth rate by 2030. This trend presents a significant opportunity for entrepreneurs to innovate and enhance the quality of life for seniors. A growing concept in India, known as silver economics, aims to empower elderly individuals to become entrepreneurs, enabling them to take control of their own solutions and challenging the notion that entrepreneurship is reserved exclusively for the younger generation.

(The author is a Research Intern with the Centre for Social and Policy Research, CHRIST Deemed to be University, Bangalore. Views are personal. She can be contacted at policy.research@christuniversity.in)