Strategy for India’s care economy

CII published 'Strategy for India’s Care Economy: Unlocking Opportunities' in 2024. It introduces us to the growing sector of the care economy in India. Followed by strategy and insights on how we can reimagine the care economy and ecosystems. 

The Care economy is a developing field in India and cannot be left in creches. With the growth of nuclear, micro, and single-parent families, the care economy has become a necessity. Thus, this report helps us prepare for this reality from a socio-economic point of view. 

Highlights from the strategy for India’s care economy

• India’s demographic landscape will change between 2020 and 2050. Making way for more elderly and childcare opportunities. 
• The proportion of elderly people will rise by 20.8% in 2050. Equal to about 347 million people. 
• Despite an 18% marginal decline in children, it will still be close to 300 million by 2050. 
• Currently, India has wide gender gaps in care and domestic work. An NSO report found that women of working age spend the majority of hours in unpaid work. While men spend the most time in paid employment. 
• There is an urgent need to rebuild the care economy and realise care sector business opportunities for women-led development. 

Read the entire report here: