India: Emerging Opportunities in a Market in Transition

S. P. Antony, P. C. Purwar, N. Kinra and J. Moorthy
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S. P. Antony: Indian Institute for Management
P. C. Purwar: Indian Institute for Management
N. Kinra: Indian Institute for Management
J. Moorthy: Pearl School of Business

Chapter 23 in The Silver Market Phenomenon, 2008, pp 341-352 from Springer

Abstract: Abstract India is in the middle of its demographic transition. The 60+ age group is projected to treble by 2050 while the 0–14 group remains stagnant. India’s population structure and distribution would then closely resemble that of nations like Russia and the UK, as seen now. Their high aging index indicates that the 60+ age group is larger than the 0–14 group. Such changes in the size, structure, and distribution of the population will have implications for public policy as well as business. The Government has launched a slew of initiatives to meet this challenge. On the business front, many products and services have been launched that specifically target the elderly. However, there are many other products and services used by all age groups. These may have to be repositioned if the motivations of the different age groups are not similar. Both from the angle of public policy and business, decision makers in India should closely examine the experience of nations with a high aging index and respond to the challenges of demographic transition. In the developed countries, the dominant factor in the next society will be something to which most people are only just beginning to pay attention: the rapid growth in the older population and the rapid shrinking of the younger generation [10].

Keywords: Consumer Behavior; Product Category; Develop Region; Demographic Transition; Senior Citizen (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/978-3-540-75331-5_23

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