Rent-a-grandchild: The Growing Business of Companion Services for the Elderly in India
A small but growing number of companies in India are offering a unique service: providing companions for the elderly. Previously a role often filled by family members, these companies are filling a gap left by migrating family and the aging population.
In Gurugram, a bustling metropolis outside New Delhi, S Budhiraja and his wife have a companion they call their "hired grandson," 26-year-old Roney Raju. Raju, who holds a master’s degree in social work, is part of a growing trend of young people taking on roles as companions to the elderly.
This trend is not new, but it is gaining momentum. According to a 2017 report, at least five startups in India were already offering this service. In 2022, Ratan Tata, the late chairman of the Tata Group, even promoted a Mumbai-based startup with the tagline, "Everything Grandkids Do!"
The Indian Senior Care Market:
With India's population aging rapidly, the demand for senior care is projected to grow significantly. The India Ageing Report 2023 by the United Nations Population Fund (UNFPA) and the International Institute for Population Sciences estimates that people over 60 will make up 21 percent of India's population by 2050, a nearly doubling from the current 10.5 percent.
This projected surge in the elderly population has led to an estimated $7 billion senior care industry in India, according to the Indian government.
Companionship as a Service:
Companions, like Roney Raju, provide a range of services, from accompanying seniors to temples and hospitals to playing games and simply listening. Many clients view their companions as more than just hired help; they become family.
Gaurav Mittal, owner of a companion service in Gurugram, charges 450 rupees ($5) per hour for 10 hours of service per month, or 400 rupees ($4.5) per hour for 25 hours. This service caters to a small segment of the population, primarily urban and financially secure families.
Filling a Need:
The need for these services is growing as families, often living far away, struggle to provide the companionship their aging relatives require.
Vinay Kumar, a companion in Hyderabad, emphasizes the importance of building relationships with clients, "We are not just taskmasters, but we develop a relationship with our clients. We support them and spend quality time with them so that they don’t miss their close ones."
The companions undergo police verification and training in psychology, social work, or hospitality before working independently. They play a vital role in easing the loneliness and providing the support that many elderly Indians lack from their families.