Mumbai, Oct. 28 -- India is undergoing a rapid demographic transition, with the elderly population (60 years and above) projected to more than double from100 million in 2011 to 230 million by 2036, according to an official report. This evolution indicates that by 2036, nearly one in seven Indians will be aged 60 years or older, representing a fundamental restructuring of the country's population composition. Keeping this transition in mind, India has adopted multiple policies, programmes and legal provisions to address the challenges arising from declining fertility and rising life expectancy rates.

The country's silver economy is valued at approximately seventy-three thousand crore rupees in 2024, with projections indicating substantial...