The future of Aged Care may be cloudy but that does not mean that the Sun is not shining.
India’s Elderly population is larger than the combined population of multiple countries in Europe, which means there is a humongous demand and supply for Eldercare.
The recent gold rush by the private sector in the Geriatric Care arena is proof that like every other industry which has gone through the development cycle, it’s time for Old Age sector to grow.
The larger point of debate is, while on one hand it’s a positive sign to witness this rush to milk the cash cow called “The Seniors” but then how many of the newbies are actually trained and knowledgeable in the subject of “Care for the Elderly”?
For any industry to grow in a structured manner, it is important to have consumer and business friendly policies, standards and guidelines. The differentiating factor between boys and men will eventually be the ethos, pricing, professionalism and subject knowledge of Ageing between the service providers.
As a Nation we still have a long road to reach the destination but then without experienced and trained navigators it will be difficult for the corporate drivers to complete this cross country race of Eldercare all by themselves.
The shining Silver wallet in the Golden pocket might look attractive from far, but then not every wallet may contain moolah.
Pankaj Mehrotra
