India is a booming economy with rising population, urbanization and a rapidly changing demographic profile. With a population of more than 1.2 billion, the elderly population in India today already stands close to the 100 million mark, and this will expand to over 300 million by 2050, with a fast exploding elderly middle class.
India has been identified as an important emerging market for senior care companies and investors. It is a country where long established cultural traditions for the care of elderly family members is changing quickly with urban migration, the increasing employment of women and access to health and wellness services. Read more at http://healthintelasia.com/thinking-strategically-international-markets-aged-care/
If you are interested in investigating the fast growing Indian market, non-profit Age Ventures India is currently looking for a partnership with an experienced and established retirement and aged care operator from Australia, to provide a "knowledge exchange".
Age Ventures India (AVI) works to address the needs and provide support services to the middle class elderly in the areas of residential housing, social care and wellbeing. AVI is a private not-for-profit trust, set up by HelpAge India, with the status of a charity organization recognized by the Indian taxation authorities. HelpAge India is an internationally recognized 35 year old leading organization working for the cause of the underprivileged elderly. All Trustees are nominees of HelpAge India.
AVI is one of India’s leading organizations working in the care home development / management sector. They offer a range of services to developers and those interested in setting up aged care and retirement homes across the country. Services range from project conceptualization, providing design guidelines, project planning to management of the facility post construction. In the 4 years since inception they have initiated various projects with reputable developers and currently have close to 1 million square feet of area under various stages of construction.
For the first 4 years Age Ventures India has had a “knowledge sharing” association with the Methodist Housing Association from the UK. They supported AVI with input and guidance. All project drawings were reviewed by MHA to ensure levels of facilities meet UK standards. This association has supported the successful execution of the various AVI projects to date including:
1. Retirement Housing Projects
- Bangalore: A 156 apartment complex with a 40 room High Dependence Care unit with the Brigade Group, part of a 130 acres Brigade Orchard Project close to the International Airport.
- Jaipur : A 196 apartment retirement home inclusive of 8 High Dependence Care rooms on the outskirts of Jaipur, part of 37 acres ARG Puram township being built by ARG Group. ARG Group is a multi location Real Estate Development Company.
- Greater Gurgaon: A 156 apartment retirement home with 5 High Dependence care rooms, being developed by the Silverglades Group, within a 17.5 acre township in Sohna.
- Ahmedabad: With Adani Group for 196 apartment retirement home with 6 High Dependence care rooms, which is proposed to be part of the 600 acres integrated township, coming up in Shantigram, Ahmedabad.
- Multi Location: We have signed up with Harmony, a subsidiary of Shriram Capital Trust for multi location project.
2. Care Home/ Assisted Living Assignments
- Lord Parasnath Foundation for a 158 room Senior Citizens home in Shikharji (Jharkhand) seat of Jain religion. The building is under construction.
- Maa Assisted Home, Faridabad for a 57 unit Elderly care home, (Assisted Living) project being set up by a group of NRI’s. The building structure is in advance stage of completion.
- Rabindra Niketan, Kolkata a 48 room old age home, housing up to 64 residents
- Masonic Homes, Bangalore a 48 room old age home, housing close to 96 residents
For more information, see website http://www.ageventuresindia.org/ and brochure http://www.ageventuresindia.org/wp-content/uploads/2014/02/Age-venture-FFF3.pdf
It is now time to seek a new “knowledge partner” to help ensure the development of age care services in India to international standards at an affordable price.
Support is sought from suitable retirement and age care home operators in Australia - ideally an organization that shares the same vision and can work in tandem on the service delivery model for providing care.
This association as “knowledge partner” offers a potential partner the opportunity to expand their insight and footprint in a rapidly growing age care sector in India, without any liability and cost, and with some revenue opportunities initially (though nominal).
Subject to discussion, the following type of support is sought:
• Continuing the role of MHA as relevant to a new partner.
• Review building drawings in current year.
• Staff training and assistance 2016 onwards.
• Possible annual audit of services and satisfaction surveys.
• Brain storming session and advice to offer solutions to various issues which arise.
• HR planning
• Time engagement planning - scheduling
• Help start Age Care at Home
Arun Gupta, Chief Executive
Age Ventures India
Annexe to House No 2 , Harcharan bagh
Mehrauli, New Delhi-110030
View Age Ventures India listings on Seniors Housing Online