Silver linings for the silver economy: institutional and entrepreneurial responses to healthy ageing and long term care in India

Journal: Journal of Social and Economic Development

Synopsis: As the demographic transition sweeps across India and life expectancy rises in tandem with a falling fertility rate, there is a significant increase in the older adult population. This is expected to rise to 20% of the country’s population by the year 2050. Therefore, current eldercare policies and welfare provisions need to align with the rapidly ageing population and changing dependency ratios to envision a longevity-ready ecosystem that supports elder well-being and improves the quality of life of older adults. In line with global imperatives that support healthy ageing in a longevity society, the need to augment health services, implement long-term care (LTC) mechanisms, and create supportive senior care arrangements is recognized. Interestingly, an increasingly growing number of social and entrepreneurial enterprises have ventured into providing senior care, supportive palliative care, and long-term care LTC for older adults. These initiatives aim to support healthy ageing, address the management of frailty and associated conditions, and improve the quality of life of older adults. This integrative review critically appraises efforts in the eldercare space from a business, government, and society standpoint. This paper contextualizes current health care and supportive provisions for older adults across a gamut of offerings that broadly constitute preventive screening, promotive care, healthy ageing, home-based care, senior living, retirement facilities, respite care, long-term care, palliative care, and end-of-life care and highlight institutional responses and exemplars in this space who have positively disrupted and envisaged a pathway for healthy ageing and improving well-being of older adults in India.