Not retiring, just reinventing: Inside India’s silver economy

With nearly 1 in 5 Indians set to be over 60 by 2050, the conversation around ageing is shifting from dependency to opportunity. In a recent webinar hosted by the Trade Promotion Council of India, experts from across real estate, marketing, research, and senior-focused tech came together to explore how this demographic is quietly reshaping consumer markets, public policy, and the future of work. What emerged was a powerful portrait of a generation that’s not slowing down—it’s just getting started.

By 2050, nearly one in five Indians will be over 60. But don’t mistake this rising demographic as passive retirees. They’re digitally aware, asset-rich, and increasingly redefining what it means to age in India. In a recent webinar hosted by the Trade Promotion Council of India, experts from industry, academia, and market research came together to explore the country’s rapidly emerging Silver Economy, a growing ecosystem of services, infrastructure, and innovation tailored to senior citizens.

At the heart of the conversation was housing. Prasun Kumar, CMO of Magicbricks, highlighted that the demand for senior-specific housing is not only real but growing fast. The company’s studies show a significant shift in how seniors perceive retirement living, not as a compromise but a lifestyle upgrade. He pointed out that many seniors are now actively seeking homes designed with comfort, safety, and independence in mind. According to Kumar, the decision-making cycle for this segment is short and intent is high. With the senior living market expected to hit US$ 8 billion by 2030, the opportunity is ripe but requires collaborative thinking between real estate, health, and tech sectors.

Still, the economic realities cannot be ignored. Professor Arun Kumar, retired economist from JNU, offered a crucial counterbalance. While the silver economy is promising, he cautioned that only 2–3% of Indian families currently have the financial capacity to invest in specialised senior services. Most elders, especially those from the unorganised sector, lack pensions or steady savings. However, he remained optimistic: with proper public finance mechanisms and inclusion strategies, this base could expand to 10% by 2050, turning today’s niche into tomorrow’s mainstream.

Vivek Gupta, MD at Ipsos India, presented a nuanced picture based on consumer research. According to him, while 70% of seniors report living with at least one chronic health issue, many also hold significant financial assets, including real estate and savings. The bigger challenge lies in access and usability especially digital access. Seniors are increasingly using mobile devices but remain wary of digital transactions, largely due to fear of fraud or lack of support. Gupta advocated for “assisted digital” models voice-enabled platforms, vernacular interfaces, and family-integrated tools that could bridge the trust gap.

One such solution already making waves is Khayaal, a platform founded by Hemanshu Jain. What started as a simple WhatsApp help group during the pandemic has grown into one of India’s largest digital communities for seniors, with over 3 million users. Jain shared that Khayal doesn’t just offer health advice or online shopping support—it fosters joy. “We’re not a super app,” he said. “Our users call us a happiness club.” With a ₹1,000 annual membership and a highly engaged user base, Khayaal is proof that seniors are not tech-averse, they’re simply underserved. His vision is clear: build not just services, but a community where seniors feel seen, supported, and celebrated.

From a marketing perspective, Neetu Bansal, Senior Director and Shruutika More, head of creative excellence, Ipsos highlighted a key gap. Seniors, despite being a large and growing consumer base, are barely represented in mainstream advertising. And when they are, it’s often through stereotypes which suggest that they are dependent, inactive, or disconnected. They pointed to successful campaigns like Antara’s “Fun is Ageless” that break this mould and urged more brands to embrace this direction. Their data-driven insight was clear: seniors don’t just want to be included, they want to be recognised for who they are today – tech-aware, financially active, and socially engaged.

Bringing in a deeply human lens, Dr. Ashita Aggarwal, professor of marketing, SPJIMR offered a behavioural segmentation of seniors. She identified three broad personas: the compensatory (seeking to reclaim lost time), the status quo (content but careful), and the forward-looking (viewing retirement as a new chapter). Regardless of type, she said, seniors want the same thing the rest of us do: respect, autonomy, and purpose. Her emphasis on dignity and relevance was echoed throughout the conversation underlining that the silver economy is not just about business opportunity, but about rewriting cultural narratives around ageing.

The conversation also touched on the future of work for older adults. Several speakers highlighted that many seniors today are not looking to retire in the traditional sense but they want to remain engaged, contribute meaningfully, and continue to learn. But they aren’t interested in returning to the grind either. This presents an opportunity for India’s emerging gig economy. Flexible, project-based roles tailored to seniors could provide them with not just income, but a sense of purpose and engagement. These roles could tap into decades of expertise while offering intergenerational value in workplaces, startups, and advisory roles. It’s a model that’s already gaining momentum globally, and India with its growing population of healthy, skilled, and motivated seniors has a chance to lead the way.

India’s ageing population is not a burden but it’s a booming market, a wellspring of experience, and a vibrant community waiting to be better served. From housing and health to fintech and storytelling, the opportunity isn’t just to innovate, but to listen.

Because the future isn’t just young. It’s silver. And it’s already here.