ASLI Ageing Fest 2023 to Unfold Blueprint To Harness $1 Tn Investment Potential in Senior Care Sector of India 

New Delhi, September 27, 2023: The Association of Senior Living India (ASLI) has announced an event that promises to revolutionize India’s senior care industry, often referred to as the “Silver Economy.” The 4th ASLI Ageing Fest, scheduled for November 17, 2023, at the Le Méridien Hotel in New Delhi, will shed light on the immense growth potential within the senior care sector and the unprecedented investment opportunities it offers.

This event was officially announced during a curtain-raiser event held coinciding with “The International Day of Older Persons” in the presence of Dr. Saurabh Garg, Secretary, Department of Social Justice & Empowerment 

In his keynote address, Secretary Dr. Saurabh Garg of the Department of Social Justice highlighted the ministry’s commitment to supporting startups venturing into senior care products and services. Dr. Garg emphasized that the ministry has allocated funds for this purpose and expressed a strong desire for more startups to participate in this endeavor. He believes that by encouraging innovation in senior care, the industry can be elevated to the next level, simultaneously addressing the existing supply gap.

The Association of Senior Living further elaborated on the immense potential within the sector, emphasizing that there are currently only a few players tapping into this opportunity. The purpose of the “Ageing Fest” initiative is to convene policy makers, investors, and end consumers under one umbrella, fostering collaboration and synergy to drive advancements in the senior care industry. This collective effort aims to not only meet the growing needs of senior citizens but also to unlock the sector’s untapped potential for the benefit of all stakeholders involved.
PwC has come on board as the knowledge partner for the 4th ASLI Ageing Fest.

Adarsh Narahari, Chairman of ASLI and Managing Director, Primus Senior Living, said, “Addressing the needs of our aging population is both a social requirement and a significant economic opportunity. We are bringing together key stake holders of the senior care space to help improve the quality of life of elders in India, the ageing fest 2023 serves as a timely response to India’s unfolding demographic shift. By 2030, one in every five Indians will be 55 years or older, reflecting the scale of the market to address, added Mr Narahari.

Ankur Gupta, Co-founder ASLI & Joint Managing Director, Ashiana Housing Limited, emphasized, “As Indians live longer and healthier, there is a huge demand coming for lifestyle, travel, health, medical, and senior living. We as the private sector need to develop our strength to service this oncoming demand.”

“India’s senior living industry holds immense potential, but it’s not without its challenges. Regulatory frameworks, societal perceptions, and infrastructure development are hurdles we must address to ensure a brighter future for our elders. As we navigate these challenges, ASLI is committed to advocating for a transformative approach that prioritizes the well-being and dignity of our seniors, making their golden years truly golden” said Rajit Mehta, Chairman-Elect of ASLI and MD & CEO, Antara Senior Care.