Business Matters | Senior care in India: Why are corporates showing interest?

Last week, Ratan Tata unveiled a start-up that he has funded, called Goodfellows, which offers companionship to senior citizens by trained young graduates. Think of it as having a substitute, grown grandchild.

Intriguing, for a nation that has evolved from considering it normal to have 10 or more siblings eight decades ago, into a society that can afford a fee for companionship.

If we look back 2-3 decades from now, there weren’t too many for-profit services specifically targeted at senior citizens. After this, small-time manpower services mushroomed. You could dial an agency that provided such people on demand, but who still may not have been medically trained.

This was followed by companies in the organised sector. Hospital chains saw the opportunity and began offering allied services including providing trained manpower, up to the level of nurses with ICU experience who were qualified to give you intravenous drips.

Why are corporates showing interest? What are the concerns surrounding the rising number of elderly folks? How affordable is healthcare for them?

Script and presentation: K. Bharat Kumar
Production: Shibu Narayan
Videography: Johan Sathyadas J

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