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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 />

39

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