Old is gold: New study on ageing seeks to reshape narrative around longevity

A new report has highlighted the role of private philanthropy in kickstarting multisectoral innovation to address the challenges that arise with an ageing population in India.

A new report by Rohini Nilekani Philanthropies, Dalberg Advisors, and Ashoka Changemakers has highlighted the role of private philanthropy in kickstarting multisectoral innovation to address the challenges that arise with an ageing population.

The report, ‘Longevity: A new way of understanding ageing’, which takes stock of the latest data, programmes, and narratives on ageing in India, identifies economic security, health and well-being, freedom to participate, and social connectedness as the four key needs of elderly population, and looks at reshaping the narrative around longevity as not just longer lives, but better ones.

According to the report, in 2023-24, older adults contributed $68 million in labour income, accounting for 3% of India’s GDP. Annually, they dedicate approximately 14 billion hours to caregiving within their families, and an estimated 2.6 billion hours to community-building activities. Findings indicate that if older adults in India who wish to remain in the workforce were to re-enter the labour market, the country’s GDP could potentially increase by 1.5%.

However, 40% of older adults in India live close to or below poverty line.

The report highlights three pivotal priorities for “samaaj innovators” and philanthropies to advance the longevity agenda. These include embedding longevity into societal consciousness as a shared mission, fostering groundbreaking ideas to improve older adults’ quality of life, and addressing systemic gaps in data, capacity, and collaboration to enable deeper, scalable change.

According to estimates, India currently has about 15 crore senior citizens (people aged above 60), a number which is expected to more than double to 32 crore by 2050. The report identifies an ecosystem developing around this demography.

It notes that many marquee policies and schemes have been introduced by the government to ensure financial support for seniors via social protection, improve healthcare access, and support employment. It also notes that more than 100 start-ups have emerged in the last decade that are pursuing technology and business model innovations to improve the quality of life of older adults in aspects such as healthcare, senior living, income and employment, social connectedness, etc.