The Association of Senior Living India (ASLI) on Wednesday announced an event that aims at empowering seniors to embrace their journey and explore endless possibilities while advocating for crucial reforms and policies, including reverse mortgage policies, special zones for senior housing, and insurance coverage for senior care operators.

The 4th ASLI Ageing Fest, which will be held in the national capital on November 17, is poised to shed light on the immense growth potential within the senior care sector and the unprecedented investment opportunities it offers.

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

On the occasion, Garg said the Ministry has also geared up to support senior living by running a 24×7 helpline number which provides counseling to elders and providing ground support if needed.

“We also have funds to support the start-up. So companies who are providing senior care and producing products for senior care will get the funding support from the government,” he said.

Adarsh Narahari, Chairman, 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 stakeholders 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,” he said.

By 2030, one in every five Indians will be 55 years or older, reflecting the scale of the market to address, added Narahari.

Ankur Gupta, Co-founder ASLI and Joint Managing Director, Ashiana Housing Limited, said: “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.”

PwC has come on board as the knowledge partner for the 4th ASLI Ageing Fest. The 4th ASLI Ageing Fest – “Unlocking India’s Senior Care Investment Potential” brings together government stakeholders, investors, and businesses to innovate and collaborate in the senior care sector. This event aims to reshape India’s aging narrative and improve elderly quality of life. Featuring enlightening discussions, knowledge sessions, and presentations.