Kolkata: Ficci West Bengal State Council brought together over 120 stakeholders from the elderly care industry in Kolkata on Friday to chart a growth map for the state's silver economy, with participants arguing that the sector deserves recognition as an independent industry rather than an adjunct to healthcare.
India currently has around 24,000 commercial retirement homes, with 65% of the business concentrated in south India, followed by the north and west. Eastern India accounts for just 5% — though Bengal is considered a core market within that share.
"We are looking to move to tier-II cities in Bengal and exploring partnerships with existing old age homes in the city and suburbs to expand," said Rajagopal G, director and CEO of Kites, which is set to open an elderly care centre in Sonarpur on April 22.
The panel discussion — titled ‘Silver Economy and Healthy Ageing' — highlighted the healthcare sector's rapid growth over the past decade as a template for what elderly care could achieve with focused investment and policy support.
Ficci West Bengal is forming a dedicated sub-group on the silver economy to drive cross-sector collaboration, said Sonali Ghosal, co-chair of the council and managing director of Nightingale Group of Companies.