The pattern of Indian family structure has been changing every 25 years, large joint families living under the same roof with multiple brothers and sisters has changed to nuclear and super-nuclear families with parents and children now preferring to live separately.
This trend is growing rapidly, not only due to job requirements but in my opinion it is also due to the need for personal space, reduced tolerance levels, and changes in outlook towards life and financial independence.
While on one hand there is nothing wrong with this gradual shift in living patterns, however the larger point of debate is, where does Old Age Care fit into the picture?
The next 1-1.5 decades will witness the middle aged people stepping into the shoes of Senior Citizens, and with a much higher financial bandwidth in comparison to their parents, but then will it be the same level playing field for the people in the hinterlands?
There is no doubt that the overall economic growth in the country is filtering down to the rural areas, but then, is economic growth the only parameter for a Nation to be seen as socially developed or is it also the inclusiveness of having all citizens irrespective of age, gender and financial bandwidth riding on the same boat?
Aged Care is the next future industry, the same way telecom, insurance, healthcare, financial services have evolved, however the only difference in my opinion is, all other industries and sectors have had policymakers and stakeholders who developed safeguards and processes for service providers and customers, but then who is actually accountable for the Old Age Care sector in India?
We as a country need to understand and realize that, it is the educated and middle class who will be impacted the most. If there are no standards and guidelines, then we will be at the mercy of mom and pop shops, because we will not be able to live in a charitable old age home nor will we be able to afford a million dollars Retirement Community.
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Pankaj Mehrotra
