Senior care a growing industry with many hurdles to cross: stakeholders
While the senior living industry in the country is still in the nascent stage, companies that are currently providing such services are increasingly looking at the government to offer some relief at the policy level.
Speaking on the sidelines of Association of Senior Living India's Ageing Fest in Bengaluru, association chairman Ranjit Mehta told ET: «There’s no single nodal agency — we currently deal with the Ministry of Social Justice, Urban Affairs and Housing, and Health. We’ve requested the government to streamline this.»
True changes will come when insurance companies start creating products for seniors, making the whole deal affordable, he said.
Currently, a senior home or apartment falls in the range of Rs 50 lakh to Rs 1 crore, catering only to the top 1-5% of the society.
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