Mumbai: Corporates are increasingly looking at senior citizens as their target market to take advantage of the enormous investment opportunity presented by this section.
The Dignity Foundation, a premier NGO specialising in productive ageing opportunities, is organising a multi-city event for senior citizens themed, 'The Retirement India Expo 2011. The event will take place in Chennai, Bangalore, Pune, Hyderabad and Mumbai from September 10 to October 23.
The three-day expo will showcase products, lifestyle and productive ageing opportunities for the booming ageing population who are 50 and above.
It will also offer opportunity to recruit experienced retired talent in highly specialised fields of technology, manufacturing, finance, general management and administration.
State Bank of India, along with several noted participants from the healthcare, insurance, banking and housing sectors are expected to participate in the expo.
Though India is touted to be the world's youngest country with over 60 percent of her 1.2 billion people under 25, by 2050, this trend is set to change and will have the highest number of elderly people (50 and above) overtaking China, says Dignity Founder President Sheilu Sreenivasan said.
In all the developed countries, the population aged over 60 has already crossed the seven percent mark set by the UN and they are considered ageing nations. India has crossed this percentage and is an ageing nation, Sreenivasan said.
During 2006-50, while the overall population rises by 40 percent, those over 60 years will increase by 270 percent and the 80 plus will rise by 500 percent. By 2050 India will have the highest number of people in the 50 plus category, overtaking China.
While China became old before it became rich, India will become rich before it goes old due to medical advances and lifestyle enhancements, longevity is increasing world over. From 42 years in 1947, Indians will now live up to 67 years.
Sreenivasan says his foundation plans to deliver action-packed space to showcase products, services and interactive exhibits of everything relating to the lifestyle segments of senior citizens.