THIRUVANANTHAPURAM: Sangita Reddy, chair of G20 Empower, feels that apart from the pension, there can also be a pension subsidy to have cost-effective care for the geriatric population in the country, which is ranked third in the world. She told TNIE that the G20 is coming up with a slew of recommendations for the care economy, which refers to the paid and unpaid labour and services that support caregiving in all its forms.
Japan holds the record for the world’s oldest population, with the highest share of people aged 65 and above, and Italy comes second.
Sangita Reddy, also the joint managing director of Apollo Hospitals Enterprises Ltd, told TNIE that India ranks third in the largest geriatric population in the world. A global healthcare leader, Sangita knows that this burgeoning issue should be addressed at the earliest.
“I never knew that geriatric issue was such a mammoth issue. This is one of the issues we have been exploring at the G20. We’ll be coming out with a detailed report and will most probably announce a challenge on rethinking the care economy. The team which comes out with valuable suggestions and recommendations on the care economy will walk out with a prize,” said Sangita, who is also the former president of the Federation of Indian Chamber of Commerce and Industry.
She feels that infrastructure and manpower hold the key to the care economy. But she says that most Indian women do not prefer to be accommodated in old age homes due to social stigma and the fear of being abandoned.
Sangita Reddy is aware that the geriatric issue cannot be seen as a ‘quick fix’ issue, as acceptance by the community is also of paramount importance.
She stressed the need for tech equity, where technology can be a powerful tool for transformative learning.
“The population of women dropouts from engineering and medicine fields in the workforce is huge. We need to create a proper work balance for women by ensuring that the education they acquired can be utilized effectively,” Sangita added.