The ‘Silver Divide’ of India: Challenges and Opportunities

Rising Health-care Consumption and Reform
• The elderly population in India is increasing, with an estimated $7 billion in healthcare consumption.
• This rise is due to chronic illnesses, daily living limitations, and depressive symptoms among the elderly.
• Senior care reform is needed to ensure the better well-being of this population segment.
• A comprehensive health care system under the Ayushman Arogya Mandir (AAM) could be beneficial.
• The healthcare infrastructure should be strengthened to focus on the elderly, including teleconsultation services, skilled workforce, and capacity building.
Addressing Financial Insecurities
• Sensitizing the community on the elderly’s needs and sensitivities, and establishing peer support groups can help them understand their entitlements and legal safeguards.
• Innovative schemes and plans for the elderly, such as insurance products, can reduce their financial burden.
• Reskilling the younger population and promoting digital inclusion among the elderly can maintain their economic independence.
As an Economic Segment
• The silver economy, which comprises economic activities and goods and services catering to the elderly, is expected to grow.
• The elderly will constitute a major consumer segment and the wealthiest, with health-care consumption being about a third of their entire consumption.
• The government has launched initiatives to rehabilitate the silver segment, such as the Senior Able Citizens for Re-Employment in Dignity (SACRED) portal and the Senior care Ageing Growth Engine (SAGE).