The Ministry of Social Justice and Empowerment on June 4, 2021 launched “Senior care Ageing Growth Engine (SAGE)” project to select, support and create a “one-stop access” of elderly care products and services by credible start-ups.
- The start-ups will be selected on the basis of innovative products and services, which they should be able to provide across sectors such as health, housing, care centres, apart from technological access linked to finances, food and wealth management, and legal guidance.
- The Ministry of Social Justice & Empowerment will act as a facilitator, enabling the elderly to access the products through these identified start-ups.
India’s elderly population
- India’s elderly population is on the rise, and as per surveys, the share of elders, as a percentage of the total population in the country, is expected to increase from around 7.5% in 2001 to almost 12.5% by 2026, and surpass 19.5% by 2050.
- Accordingly, there is an urgent need to create a more robust elder care ecosystem in India, especially in the post-COVID phase.
(Source: PIB)
