17. Critically examine the effects of globalization on the aged population in India.

    Globalization has had got something in the store for almost everyone. But the aged population has not gained anything significantly. Globalisation has had mixed impact on aged population. They have benifited from the medical advancements and increased access but are increasingly secluded from families. Also, economic impact has been mixed with increased opportunities as well as risks.

      They have got increased avenues for diversification of retirement investments. But this has not been of much use,since they lack awarness and are risk averse.

      Globalization has led to rise of nuclear families. It has led to urban migration in search of better employment opportunities. It has led to increase of economic activities(especially in urban areas). It has increased the avenues available for employment and has simultaneously encouraged women participation too, leading to an increase in two parents working families. This has resulted in partial neglect of children and old age citizens due to the lack of time. Working young generation has found it difficult to balance the personal and professional life.

    Aged citizenry are the most in need of care. Though, old age homes have propped up they are neither adequate, nor do they provide sufficient accessibility. They are often reported to be insensitive to the needs of elderly. Indian government has encouraged the setting up of more homes and has formulated rules and regulations for their smooth functioning.    

 Globalisation has not only led to faster growth but faster inflation also. Elderly population find their savings are often eaten away by inflation. This too has led to increased anxieties. Government has pushed for social security provisions and measures such as inflation indexed bonds to provide a hedge against inflation.  

 Globalisation has led to rapid rise in of Information Communication Technology. Elderly are often technology averse and reluctant to embrace change. Slowly, many are getting acquainted to the demands of ICT. Digital initiatives by government has also increased penetration of digital technologies.  

    Globalisation has led to induction of advanced medical technologies in India. They have decreased costs and increased accessibility to health care for the elderly.

     Globalisation has had mixed impact on aged population. It has seemingly prolonged life and eroded the purpose of life. When India's demographic dividend recedes, India would be left with a high amount of dependent population who needs to be cared for. Government policies and programmes should be crafted with this in consideration.