annual report1-final.qxd - Overseas Indian
annual report1-final.qxd - Overseas Indian
annual report1-final.qxd - Overseas Indian
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Pravasi Bharatiya Divas<br />
Pravasi Bharatiya Divas<br />
Pravasi Bharatiya Divas<br />
Pravasi Bharatiya Divas<br />
There was a suggestion from the floor that since<br />
GoI was short of funds, there was need for complete<br />
autonomy of higher and technical education.<br />
As in the case of the industries sector, education<br />
should also be made free from the licence-quota raj.<br />
Chair:<br />
Presentation:<br />
Keynote Speaker:<br />
Speakers:<br />
Parallel V: Assisted Living<br />
Dr. Laxminarayan Pandey,<br />
Chairman, Parliamentary<br />
Standing Committee<br />
B.K. Samal,<br />
LIC Housing Finance Ltd.<br />
K. Sridhar,<br />
LIC<br />
Jiji Thomson,<br />
NORKA<br />
P.K.Choudhury,<br />
MD, ICRA<br />
The session was chaired by Dr. Laxminarayan<br />
Pandey, Member of Parliament and Chairman of the<br />
Standing Committee of MOIA. The first presentation<br />
was given by B.K. Samal and K. Sridhar of LIC India.<br />
They highlighted how LIC Care Homes Ltd provided<br />
support to senior citizens. They also talked about<br />
the emerging social scenario where the structure of<br />
the family was changing and creating problem for<br />
the senior citizens. One of the major challenges that<br />
senior citizens were facing today was lack of care and<br />
support from the family. As more and more senior<br />
citizens were now in need of support from outside<br />
agencies, there was a need for urgent response from<br />
individuals and agencies to come forward.<br />
The presentation highlighted one of the pilot<br />
projects undertaken by LIC in Bangalore, which<br />
provided not only shelter to old people but also<br />
made their living dignified and comfortable. They<br />
also mentioned that there was a large business<br />
opportunity in this area as there was a growing<br />
number of senior citizens demanding support.<br />
The next presentation was by Jiji Thomson,<br />
Principal Secretary to Government of Kerala for<br />
Non-Resident <strong>Indian</strong>s. He mentioned that Kerala<br />
had the highest ratio of senior citizens needing<br />
support from outside their family and highlighted<br />
a number of steps taken by the Kerala Government<br />
in the last six years. He mentioned that there was<br />
less family support to old people in urban areas.<br />
Thomson presented the case of ‘Heritage Village’<br />
situated at Mavelikera in Kerala where they had a<br />
substantial number of old people with children living<br />
abroad. The residents enjoyed facilities such as<br />
video conferencing to facilitate family bonding.<br />
The last presentation was on ‘Risk Mitigation in<br />
Real Estate’ and it was made by P.K. Choudhury,<br />
Managing Director of ICRA Ltd. He gave a brief<br />
introduction about the real estate scenario, its financial<br />
aspects, clearing facilities, prices, acquisition<br />
and the grading system that were needed to provide<br />
quality services. He also mentioned that information<br />
facilities were available online to stakeholders. He<br />
mentioned ICRA’s initiative to provide information<br />
services to the investor, developer and end user, the<br />
risk factors and the investment potential.<br />
Choudhury also talked about the grading<br />
process in the real estate business. There were<br />
questions related to the rating of land, investment<br />
in apartments, and insurance by participants.<br />
Following were some of the important<br />
suggestions made by the participants:<br />
! A participant from U.S. mentioned that there<br />
was a growing number of old people among the<br />
diaspora who needed old age care. If agencies like<br />
LIC could start projects in the U.S., U.K. etc., it<br />
would be a success. This also had business potential<br />
as countries like the U.S. gave old age pension<br />
to its senior citizens.<br />
! Sudhir Jain from U.K. mentioned the need for<br />
LIC to provide concessional loans to individuals to<br />
start projects to support old people.<br />
! A participant working with NHS Health<br />
Service in London mentioned that there were quite<br />
a number of senior citizens in the age group of 50-<br />
60 wanting to spend their last years in India and<br />
needed improved health service and other facilities.<br />
! There was a need for an information system<br />
where <strong>Indian</strong> people from all parts of world would<br />
know about old age facilities available in India. The<br />
difference in lifestyle, viewpoint and ideas of senior<br />
citizens should also be taken into consideration<br />
to provide better services. The stigma attached to<br />
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