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Google has announced to make <keyword id="389765" type="PERSON" weightage="20" keywordseo="Prabhakar-Raghavan">Prabhakar Raghavan</keyword>, head of Ads and Commerce, as new head of Search and Assistant. Raghavan who was heading Ads and Commerce segments since 2018 would replace Ben Gomes, who would take on a new role in various Google education and learning initiatives, reports searchengineland.com, citing an internal email from Alphabet and Google CEO Sundar Pichai. "For Prabhakar, this new role brings his experience with search full circle. He's spent more than two decades obsessing over algorithms and ranking, and his association with <keyword id="163945" type="COMPANY" weightage="20" keywordseo="Google-Search">Google Search</keyword> predates Google," Pichai wrote. "He published a foundational text on search and then went on to lead search teams at IBM and Yahoo. He joined Google in 2012 and  prior to his current role  worked with teams in Research, Geo, and Google Apps," he added. Search encompasses News, Discover, Podcasts and Google Assistant. Raghavan later founded the research lab at Yahoo after joining the company in 2005. In 2010, he spoke about the concept of the "web of things" vs. the "web of objects" (documents). "A member of the National Academy of Engineering, Prabhakar is one of the most respected engineering minds in our field. His experience working across so many of our product areas gives him the perfect lens to spot the seams between them," said Pichai. Jen Fitzpatrick who has been with Google's Geo team for more than a decade and took over as its head six years ago, has now exited Maps/Geo to run the company's central engineering team, which has 8,000 employees. Jerry Dischler who has been working on Google Ads for more than 10 years will not head the Ads division.

Prabhakar Raghavan elevated as head of Google Search, Assistant

After serving as the Defence Minister in the 2014 BJP government, Nirmala Sitharaman has now taken responsibility in the 2019 Lok Sabha as the <keyword id="6355261" type="UNKNOWN" weightage="20" keywordseo="finance-minister">Finance Minister</keyword>. A special honor as the Cabinet Minister conferred upon a lady twice by Shri Narendra Modi’s government, she has deserved such high postings due to her sharp acumen, dedication and talents. While the whole country is eagerly waiting to see her performance as the Finance Minister this time, here are a few interesting facts about Nirmala Sitharaman worth knowing. Second Woman Finance Minister Nirmala Sitharaman was the second woman in India to become the defense Minister after Indira Gandhi and the first one to hold this office full time. She is the 33rd defense minister of the Indian Republic and the 26th person to assume this office. First full-time Woman Finance Mininster She will be now the first woman in India to hold the office as the full-time finance minister. Earlier when Indira Gandhi held this position for a brief time between 1970 and 71, she managed this department as the additional charge while serving the country as the Prime Minister. Worked with PWC in London Born and brought up in Tamil Nadu, she completed her graduation from Seethalakshmi Ramaswami College, Tiruchirapalli and did her masters in Economics at Jawaharlal Nehru University, Delhi. After marrying Parakala Prabhakar in 1986, she moved to London with her husband. She worked as the Senior Manager (Research and Analysis) with Price Waterhouse and was also associated with the BBC for some time. Joined BJP in 1991 In 1991, Nirmala Sitharaman returned to India and became BJP’s spokesperson under Ravi Shankar Prasad. In 2006, she joined the BJP and rose in popularity in the party when Nitin Gadkari was the BJP President. Got Married to Parakala Prabhakar in 1986 For the first time, she met Parakala Prabhakar at the JNU and later married him in 1986. Parakala Prabhakar hailed from a pro-Congress family. While his mother was a Congress MLA in Andhra Pradesh, his father was a minister in the Congress government in Andhra Pradesh. Worked as a sales girl in London Before joining the Price Waterhouse in London, she worked as a sales girl for a brief period with Habitat, a Home Décor Store at London’s Regent Street. She recorded the highest sales in Christmas which won her the appreciation of the store management. She decided to come back to India along with her husband only for the birth of their daughter as the couple was keen to raise their daughter only in India. When their family settled in Hyderabad, she established a school for underprivileged children in the city clubbed with a policy research centre. Served as a member of National Commission for Women An active representative of the woman community, she has been taking a lot of interest in the subject of women empowerment. She served as the member of the National Commission for Women from 2003 to 2005. She is fond of Music Nirmala Sitharaman likes classical music so much and has a good collection of classical songs with her to listen to them from time to time. She is an ardent devotee of Lord Krishna. She spends three hours a day reading Newspapers. She is not so fluent in Hindi though her command over the English language is exceptional.

Interesting facts about Finance Minister Nirmala Sitharaman that you should know

<ul class="summary-list"><li>Four Google executives will receive 200% performance-based stock payouts in 2023.</li><li>This comes amid layoffs and a turbulent year for the company.</li></ul>Google parent company Alphabet paid four of its executives tens of millions of dollars in stock payouts for 2023, based on the company's public-markets performance.President and chief financial officer Ruth Porat, along with senior VP Prabhakar Raghavan, chief business officer Philipp Schindler, and legal chief Kent Walker, have been awarded the company's maximum number of performance-based stock units, Google said in a <a target="_blank" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1652044/000130817924000612/lgoog2024_def14a.htm">regulatory filing last week.</a>Base salaries for the four executives remained $1 million last year, and they each received a $1.5 million bonus. The executives were also granted millions of dollars' worth of performance and restricted stock units, which vest at different times and depend on the execs sticking around.The executives' stock-based compensation can range from 0% to 200% of the target number of shares, based on Google's performance relative to the S&amp;P 100.A 200% stock payout raised the total stock value for Porat and Walker's 2023 compensation to $23 million each. Raghavan and Schindler were compensated $35 million each in stock value, according to the filing.The executives' compensation was approved in early February after a tumultuous year for the company.The tech giant axed 12,000 jobs, or 6% of its workforce through last year, and warned it would <a target="_blank" href="https://www.businessinsider.com/google-ceo-says-more-layoffs-to-come-2024-1">lay off more workers</a> in 2024."We have ambitious goals and will be investing in our big priorities this year. The reality is that to create the capacity for this investment, we have to make tough choices," CEO Sundar Pichai wrote in an <a target="_blank" href="https://www.businessinsider.com/google-ceo-says-more-layoffs-to-come-2024-1">internal memo</a> in January.The layoffs and the slashing of key projects have <a target="_blank" href="https://www.businessinsider.com/layoffs-pivots-race-for-ai-supremacy-inside-google-tumultuous-2023-2023-12">hurt sentiment </a>within the company, BI reported in January. The company's leadership received <a target="_blank" href="https://www.businessinsider.com/google-employees-fight-back-layoffs-just-business-2024-1">strong backlash</a> from some of its employees, who publicly aired their exasperations regarding layoffs on LinkedIn and Twitter.Alphabet's <a target="_blank" href="https://markets.businessinsider.com/stocks/googl-stock">stock</a> is up 55% in the last year.

Four Google execs got 200% stock payouts for 2023 after strong company performance

<ul class="summary-list"><li>Sundar Pichai, CEO of Google owner Alphabet, was paid a total of $226 million in 2022.</li><li>His package was boosted by stock awards worth $218 million.</li></ul>Alphabet's Sundar Pichai was paid a total of $226 million last year after he was awarded a big tranche of shares, making him one of America's best-paid CEOs.The chief executive of Google's owner was given more than $218 million, <a href="https://www.sec.gov/Archives/edgar/data/1652044/000130817923000736/lgoog2023_def14a.htm" target="_blank" rel="noopener">according to filings published Friday</a>. His base annual salary of <a href="https://www.sec.gov/Archives/edgar/data/1652044/000130817922000262/lgoog2022_def14a.htm">$2 million hasn't changed since 2020</a>. Pichai is awarded shares every three years and took home more than $280 million in 2019, the year cofounders <a href="https://www.businessinsider.com/alphabet-larry-page-sergey-brin-stepping-down-sundar-pichai-2019-12" target="_blank" rel="noopener">Larry Page and Sergey Brin</a> officially stepped down from their executive roles. Alphabet also spent almost $6 million on personal security for Pichai, according to the filing. Other executives, including senior vice president of Google's knowledge and information, Prabhakar Raghavan, and chief business officer Philipp Schindler both made about $37 million, per the filing. They are awarded shares annually.Pichai's compensation makes him one of the world's best-paid CEOs. The timing is awkward following layoffs at <a href="https://www.businessinsider.com/google-layoffs-jobs-alphabet-work-employees-staff-sundar-pichai-2023-1" target="_blank" rel="noopener">Alphabet</a> as well as other companies in t<a href="https://www.businessinsider.com/tech-layoffs-cold-impersonal-human-resources-logistics-2023-3" target="_blank" rel="noopener">he tech sector</a> such as <a href="https://www.businessinsider.com/meta-staff-criticize-mark-zuckerberg-layoffs-shattered-morale-confidence-2023-4" target="_blank" rel="noopener">Meta</a> and <a href="https://www.businessinsider.com/twitter-layoffs-mean-junior-employees-in-charge-of-unfamiliar-areas-2023-3" target="_blank" rel="noopener">Twitter</a>.Alphabet cut 12,000 jobs in January and Pichai said in a memo he was taking "full responsibility for the decisions that led us here.""Over the past two years we've seen periods of dramatic growth," he wrote. "To match and fuel that growth, we hired for a different economic reality than the one we face today."Pichai said the company had undertaken a "rigorous review" and that jobs were being cut across all "product areas, functions, levels and regions."Apple CEO Tim Cook <a href="https://www.businessinsider.com/tim-cook-taking-pay-cut-stock-based-compensation-apple-filing-2023-1" target="_blank" rel="noopener">asked to have his pay cut</a> for 2023 after huge packages in previous years caused controversy among shareholders. He is set to earn $49 million, about 40% less than in 2022.Elon Musk was arguably the best-paid boss last year after selling shares in Tesla worth almost $23 billion to help fund his takeover of Twitter. The CEO doesn't take a salary or bonus from the EV maker.Alphabet didn't immediately respond to a request for comment from Insider, made outside normal working hours.

Alphabet CEO Sundar Pichai earned $226 million last year, making him one of the world's best-paid bosses

<ul class="summary-list"><li><keyword id="11892740" type="UNKNOWN" weightage="60" keywordseo="google" source="Orion">Google</keyword> has boosted base pay of four top execs to $1 million.</li><li>The move comes weeks after the search giant declined to raise employee pay in line with inflation.</li></ul>Four Google C-suite executives are set to get a salary bump to $1 million, plus a hefty increase in stock awards.According to a summary of executive salaries disclosed in <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1652044/000165204422000009/goog-20211228.htm">SEC filings</a>, the four Google execs — chief financial officer <keyword id="12888474" type="UNKNOWN" weightage="60" keywordseo="ruth-porat" source="Orion">Ruth Porat</keyword>, senior VP Prabhakar Raghavan, chief business officer Philipp Schindler, and legal chief <keyword id="12888475" type="UNKNOWN" weightage="60" keywordseo="kent-walker" source="Orion">Kent Walker</keyword> — will see their annual salaries bumped from $650,000. All are also eligible for a $2 million bonus if they help Google to meet its "social and environmental goals" for 2022.The execs' total compensation packages are considerably chunkier when taking equity into account. As well as their increased annual pay, the executives were granted millions of dollars' worth of performance and restricted stock units, which variously vest at different times and depend on the execs sticking around.According to the filing, Porat and Walker were each granted $23 million total in stock units, and Raghavan and Schindler $34 million total each.<a href="https://www.businessinsider.com/google-alphabet-ceo-sundar-pichai-salary-raise-2019-12">As of December 2019</a>, chief executive Sundar Pichai's annual base salary comes in at $2 million. He's eligible for a further $150 million in restricted and performance stock units if he stays at Google and meets certain performance targets.Google's finances are in good health following <a href="https://www.theverge.com/2021/10/26/22747193/google-q3-2021-earnings-record-revenue-profit">another record quarter</a> in October, raking in revenue of $65.1 billion and almost $20 billion in profit. But the move comes just weeks after a <a href="https://www.protocol.com/bulletins/google-raise-salary-inflation">December all-hands meeting</a> in which Frank Wagner, Google's compensation chief, told rank-and-file staff that the company would not be offering any "across-the-board" adjustment in line with inflation, which recently <a href="https://news.sky.com/story/us-inflation-surges-to-highest-level-since-1982-12491889">surged in to its highest level in decades</a>. "As I mentioned previously in other meetings, when we see price inflation increasing, we also see increases in the cost of labor or market pay rate," Wagner told employees, <a href="https://www.cnbc.com/2021/12/09/google-execs-tell-employees-they-wont-raise-pay-to-match-inflation.html">according to NBC</a>. "Those have been higher than in the recent past and our compensation budgets have reflected that."Insider approached Google for comment. Do you work at Google? Got a tip? Contact reporter Martin Coulter via email at <a href="mailto:mcoulter@businessinsider.com" target="_blank" rel="noopener noreferrer">mcoulter@insider.com</a>, or via encrypted messaging app Signal at +447801985586.

Google boosted base pay for 4 top execs to $1 million and handed them up to $34 million in stock, weeks after refusing to raise wages to meet inflation

<ul class="summary-list"><li><keyword id="2918346" type="PERSON" weightage="60" keywordseo="WeWork">WeWork</keyword>'s CEO said employees comfortable working from home are "least engaged" with the firm.</li><li><keyword id="2869842" type="PERSON" weightage="60" keywordseo="Sandeep-Mathrani">Sandeep Mathrani</keyword> replaced <a href="https://www.businessinsider.com/wework-ceo-adam-neumann-bio-life-career-2019-8">Adam Neumann</a>, the former CEO and founder, who was ousted in 2020.</li><li>"Overly engaged" workers want to be in the office at least two-thirds of the time, he added.</li></ul>WeWork's CEO said your desire to go to an office depends on how "engaged" you are at work.Sandeep Mathrani, who stepped in as CEO of the coworking startup last year, said that people most comfortable working from home are the "least engaged" with their company, while the "overly engaged" want to go to the office."No one is saying they don't want to go to work. They are saying 'I wanna go to work two or three days a week' and 'I'd like to work from home a day a week,'" Mathrani said during The Wall Street Journal's <a href="https://www.wsj.com/articles/wework-ceo-says-workers-who-want-back-into-the-office-are-the-most-engaged-11620837018?mod=e2tw">Future of Everything</a> festival on Wednesday."It's also pretty obvious that those who are overly engaged with the company want to go to the office two-thirds of the time at least," he added. "Those who are least engaged are very comfortable working from home."It's worth noting that WeWork's business model relies on filling office space. The company recently told investors it is expecting a <a href="https://www.businessinsider.com/wework-releases-investor-desk-ahead-of-spac-deal-2021-3" target="_blank" rel="noopener noreferrer">dramatic upswing in occupancy</a> in a pitch to value the company at around $9 billion.Read more: <a href="https://www.businessinsider.com/google-head-of-search-prabhakar-raghavan-ceo-sundar-pichai-alphabet-2021-5">Meet Google's $55 million man, Prabhakar Raghavan. Insiders detail how he quietly rose to become one of Sundar Pichai's most powerful lieutenants.</a>Mathrani said that despite the widespread remote work that came about during the COVID-19 pandemic, the office is an important part of building company culture, collaborating, and innovating.Mathrani, the former CEO of the mall-owning giant General Growth Properties, took over as <a href="https://www.businessinsider.com/wework-new-ceo-who-is-sandeep-mathrani-history-career-2020-2#sandeep-mathrani-is-an-indian-american-real-estate-mogul-he-was-born-into-a-wealthy-family-in-india-bloomberg-reported-1">WeWork's chief executive</a> in early 2020 after the company ousted founder <a href="https://www.businessinsider.com/wework-ceo-adam-neumann-bio-life-career-2019-8">Adam Neumann</a>.Mathrani also suggested that the reason more companies had announced plans to bring employees back to the office, or establish a "hybrid" work model that combines in-office and remote work, was because of the "<a href="https://www.businessinsider.com/zoom-burnout-video-call-fatigue-from-work-and-school-2020-5">Zoom fatigue</a>" executives have experienced during the remote-work era.Top companies are split on how to adapt to work post-pandemic. Though firms such as <a href="https://www.businessinsider.com/twitter-tells-employees-they-can-work-from-home-permanently-2020-5">Twitter</a> and <a href="https://www.businessinsider.com/facebook-staff-work-from-home-after-coronavirus-pandemic-twitter-2021-4">Facebook</a> announced a permanent work-from-home option for workers, <a href="https://www.businessinsider.com/jpmorgans-ceo-jamie-dimon-return-to-office-instagram-face-masks-2021-4">Jamie Dimon</a>, the CEO of JP Morgan, said he's expecting employees back in the office within weeks and maskless by October. <a href="https://www.businessinsider.com/amazon-office-workers-to-return-june-fall-30-europe-vaccine-2021-3">Amazon</a>, too, plans to keep its "office-centric" culture.Workers themselves reported feeling <a href="https://www.businessinsider.com/benefits-remote-work-changing-us-economy-for-the-better-upwork-2021-3">more productive</a> at home, a recent survey from Upwork showed. Some business leaders told Insider that remote work had allowed them to broaden talent pools, thereby increasing diversity, and <a href="https://www.businessinsider.com/why-forgo-hybrid-model-stay-remote-work-2021-5">retain top employees</a>.WeWork declined to add additional comment.

WeWork's CEO said people who are most comfortable working from home are the 'least engaged' with their job

<div class="KonaFilter image-container display-table"><div><div class="image on-image">GoogleSVP of Google's <keyword id="35666" type="COMPANY" weightage="60" keywordseo="advertising">Advertising</keyword> and Commerce products, Prabhakar Raghavan</div></div></div><ul class="summary-list"><li>Prabhakar Raghavan, who recently transitioned to his new role as <a href="https://www.businessinsider.com/category/google">Google's</a> head of advertising and commerce products last October, finds himself in a tricky situation.</li><li>At a time when consumer concerns over privacy are seemingly at an all-time high, Google's money-minting ads business is showing signs of sluggishness.</li><li>This week at Google Marketing Live - the company's annual event for advertising partners - Raghavan and his team unveiled several new ad and commerce products that try to strike a balance between being useful to advertisers while also being respectful of consumer privacy.</li><li>"I don't think any of my colleagues, or Sundar [Pichai], or I think of how much revenue will that deduct," Raghavan said of his team's re-tooling around privacy-focused products. "We think about how this is setting us up for success in the long run." </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>When Prabhakar Raghavan was teaching at Stanford University some 20 years ago, he was recruited by two grad students - Larry Page and Sergey Brin - to help run their search engine startup company. He turned down the offer. Raghavan's response to the young founders: "You'll never make any money." Today, Raghavan is responsible for how <a href="https://www.businessinsider.com/category/google">Google</a> - worth $700 billion-plus - makes almost all of its money: advertisements.But Raghavan, who transitioned to his new role as ads chief last October after leading Google Apps for the company, finds himself in a tricky situation. At a time when consumer concerns over privacy are seemingly at an all-time high, Google's money-minting ads business is showing signs of sluggishness. On last quarter's earnings call, Google announced slower than expected ad revenues, signaling concerns to Wall Street and sinking its stock more than 7% in after-hours trading. To boost business in a post-Cambridge Analytica climate, Raghavan knows he can't merely give advertisers more access to user information. Instead, he needs to find the right balance between advertiser demands and user privacy.This week at Google Marketing Live - the company's annual event for advertising partners - Raghavan and his team unveiled several new ad and commerce products to help Google boost its business with advertisers while driving home the message that it's respectful of privacy. "To remain the leader in our space, we'll have to be the leader in user trust," Raghavan said at a press event this week. "That's super critical." A few days after the event, reports emerged that <a href="https://www.businessinsider.com/google-gmail-purchasing-history-list-what-you-buy-2019-5">a feature in Google keeps a log of users' purchases based on emailed receipts</a>. Google said the information helps create personalized features, like asking Google Assistant when a package will be delivered, and is not used to serve ads. Still, news that Google was keeping a log of its users' purchases took many people by surprise and underscored the challenges facing Raghavan and the company as they try to earn consumers' trust. <h2>More ads in more places </h2>That privacy-first mantra can be easily lost in Google's barrage of launches and updates at this week's Marketing Live event. For the first time, Google will now allow ads on Discover - <a href="https://www.blog.google/products/search/introducing-google-discover/">the social feed</a> that's front-and-center on Google's apps and on the home page of its mobile website. Last September, Google said Discover had <a href="https://www.businessinsider.com/google-discover-mobile-search-news-feed-2018-10">800 million people</a> using the product each month. Also announced this week, Google will make it easier for businesses to run single ad campaigns across YouTube, Discover, and the "promotions" tab in Gmail. Read more: <a href="https://www.businessinsider.com/google-rolls-out-ads-within-discover-2019-5">Google just rolled out its biggest move yet to steal ad budgets from Facebook and Pinterest, and says its new ads can reach up to 1 billion eyeballs a month</a>Raghavan maintains that more ads aren't necessarily an infringement on user privacy. Most of the information Google knows about its users is used to create a better "consumer experience" rather than for creating personalized ads, he says. "The wealth of the data is really used for personalizing consumer experiences far more than the little fraction that's used for advertising," Raghavan said. "But that's the kind of thing that very hard to articulate. People don't really get it."Perhaps, the articulation is difficult because for Google, the line between its ad products and "consumer experiences" is being blurred. As part of its announcements this week, the tech giant also signaled a major push into online <keyword id="6354851" type="UNKNOWN" weightage="60" keywordseo="retail">retail</keyword>, allowing users to not only make purchases from its Google Shopping platform, but also directly from ads surfaced on Search, Images, and even, YouTube. Click on an ad, check out on Google.And, as the newly discovered log of Google users' purchase history shows, it's not always clear how much personal information is being collected and organized by Google, and why. <h2>Building for the future</h2>Raghavan himself is no stranger to the long-lasting effects of breaching user trust. While under his watch, Google had been scanning Gmail inboxes for information that could then be used to serve more personalized ads. Google <a href="https://www.businessinsider.com/google-to-stop-scanning-users-gmail-inboxes-to-send-ads-2017-6">rolled back its practice in 2017</a> amid pressures from privacy critics and businesses, but, as Raghavan told us, the concerns still linger on today. "Even well-informed friends come to me and say, 'When are you going to stop scanning my Drive for advertisements,'" he said. When asked if a focus on privacy was the reason for the recent revenue slowdowns, the ads chief contemplated his response.Raghavan acknowledged the demands it has put on his staff. For instance, to comply with the European Union's recent data protection regulations, known as GDPR, Raghavan said it took "several hundred engineering years." But ultimately, Raghavan said the privacy-first mentality has pushed his team to innovate and come up with a new generation of advertising products, built for today's landscape. In the past, the ads chief said the company might have thrown "more data" at creating more sophisticated offerings - like knowing a buyer's intent. But now much of those inferences are being made possible by more computing. "Doing more with less data" is a phrase Raghavan likes to use. "I think it's a good thing for us. It sets a good tone for the industry," Raghavan said of his team's re-tooling around privacy-focused products. "I don't think any of my colleagues, or Sundar [Pichai], or I think of how much revenue will that deduct. We think about how this is setting us up for success in the long run." Get the latest Google stock price<a href="http://markets.businessinsider.com/stock/GOOG-Quote"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-this-startup-is-turning-100-non-recyclable-plastic-bags-into-speakers-gomi-brighton-2019-5">This startup turns 100 non-recyclable plastic bags into a high-end Bluetooth speaker</a></h3> <div> </div> </div>

Google's advertising boss says that it won't sacrifice privacy to boost its slowing ads business

<ul><li>India is sitting on a demographic time bomb. People over the age of 60 are expected to account for 25% of India’s <keyword id="48933" type="PERSON" weightage="20" keywordseo="population">population</keyword> by 2050.</li><li>The concept of <keyword id="2995734" type="PERSON" weightage="20" keywordseo="senior-living">senior living</keyword> has been gaining traction in recent years owing to the migration of Indians and the breakdown of the joint family model. </li><li>However, most senior care options are mostly geared towards the upper-middle class. The low-cost options leave a lot to be desired. </li></ul> My father was 64 when he had his first heart attack in September 2015. He downplayed the pain and told my brother and I, who were 23 years old at the time, that it was just acidity. We didn’t know better. Four days later, on his 65th birthday, the heart attack led to a stroke, which affected a small part of his brain that dealt with his speech and comprehension. Following his discharge from the hospital, my brother and I worked out an arrangement with our respective employers wherein we worked from home on alternative days so we could take care of him. My father slowly regained his verve and became somewhat self-sufficient by the end of 2015. However, he suffered another stroke and an epileptic seizure in April 2016. After my father suffered a third stroke in February 2017, the idea of putting him in an assisted living facility was floated by my uncle. My brother was living in Bombay by this point and I was spending more time at work so it seemed like the sensible thing to do. The concept of senior living, while relatively new to India, has been gaining traction in recent years and with good reason. There were 103.8 million citizens above the age of 60 in India in 2011, according to the Ministry of Social Justice and Empowerment, and the number is expected to reach 143 million by 2021 and 173 million by 2026. Concurrently, as nuclear families are in vogue, the safety net afforded to old people by the joint family model is disintegrating. India has also seen a wave of migration in the last few decades as young people have gone to big metros as well as foreign countries in search of better opportunities, leaving their parents behind. More and more old people are living alone- which makes them vulnerable to <a href="https://www.firstpost.com/india/increase-in-crimes-against-senior-citizens-in-chennai-forces-them-to-shift-to-retirement-homes-3109622.html">crime</a> and depression. And the problem will only get worse. People over the age of 60 are expected to account for 25% of India’s population by 2050. India’s emerging market counterparts like Brazil and China are also sitting on a similar demographic time-bomb resulting from decades of exponential economic growth, improved health outcomes and stretched budgets. While Western countries like the US and UK started laying the foundational groundwork for their senior care industries in the latter half of the 20th century, BRIC countries only began developing an industrial framework to address the problem in the recent past - that too, by encouraging foreign participation and co-opting the western model of senior living which marries real estate development with at-home care. The Senior Care Act The Indian government has made some noticeable interventions but they haven’t produced the desired results. For example, in 2007, there government of India passed the Maintenance and Welfare of Parents and <keyword id="20566" type="COMPANY" weightage="20" keywordseo="senior-citizens">Senior Citizens</keyword> Act. The act requires children to take care of their parents in <keyword id="6378960" type="UNKNOWN" weightage="20" keywordseo="old-age">old age</keyword>. It also mandates the establishment of old age homes by state governments. The act has failed on both fronts. Senior citizens neither have the knowledge of their rights or the will to take their children to court. As of mid-2017, only 360 homes had been built by state governments with central funding under the Integrated Programme for Older Persons (IPOP), according to data from the social justice ministry. India’s private sector takes the lead However, India’s private sector has spotted the gap in the market, taking inspiration from the US’s $300 billion senior living industry. By 2013, India had 30 assisted living projects in India, with another 30 in the pipeline, according to Jones Lang Lasalle, a commercial real estate firm. There are a number of developers building “retirement resorts” in North India to cater to the high-end segment. Max India, a <keyword id="6354525" type="UNKNOWN" weightage="20" keywordseo="healthcare">healthcare</keyword> giant, has a 200-block senior living facility called Antara on the outskirts of the city of Dehradun. Pitched as the confluence of lifestyle and life care, the community boasts state-of-the-art medical facilities with in-house doctors as well as a a fitness centre, which includes a gym, spa and a swimming pool. Prices for a property here start at a cool $300,000. However, the senior living trend actually took flight in south Indian states like Tamil Nadu, Karnataka and Andhra Pradesh, where a large number of non-resident Indians (NRI) hail from, before spreading to the North. In recognition of their high purchasing power, Covai Care, a Coimbatore-based developer, launched S3 Retirement Homes, one of India’s first retirement projects, according to its general manager, S Prabhakar, in 2007 to cater to this market. While the senior living market has doubled since then, says Prabhakar, it is still in a nascent stage. Covai Care primarily offers three forms of care facilities for its residents- assisted care for senior residents, palliative care for terminally ill patients and memory care for patients with dementia or Alzheimer's with properties in Bangalore, Mysore, Coimbatore and Pondicherry. The properties don’t come cheap either. With prices ranging from $60,000 to $150,000 depending on size, residents also have to pay around $270-$300 a month for medical and maintenance fees. Prabhakar maintains that these costs are in line with the average cost of living for these patients anyway. He also expects the demand for these properties to be robust, citing the increase in life expectancy and growing trend of senior citizens who crave independence. The middle ground India is striving to create cheaper offerings for the middle class too. Arun Gupta, the chief executive of Age Ventures India (AVI), a non-profit organisation that petitions builders to develop properties, echoes Mr Prabhakar’s beliefs about the industry’s prospects. “The senior citizen population is growing at a rate of 3.8% per annum, while the overall population of India is growing at 1.8%” he says. For a small consulting fee, AVI works with developers to build elder care homes and communities by sharing best practices and identifying project locations. These homes are modestly priced, with a 1BHK unit starting at $22,500 at the organisation’s first project in Bangalore. Ashiana Housing, a Delhi-based real estate developer, pitches its retirement communities to the middle class in tier-1 and tier-2 cities . The price ranges between $45,000 million and $100,000 for the units, and that demand for them follows the same pattern as the housing market. Amit Dogra, the sales manager for Ashiana's senior living segment, doesn’t think much of India’s cultural aversion to old age homes. “98% of our residents chose senior living independently. They were not forced by their children.” Abhishek Mohanty, a facility design and marketing consultant at Epoch Elder Care, feels otherwise. “Social stigma, especially from relatives, is more of a problem than affordability”, he says. “This is why we target higher-net-worth individuals and NRIs as they are more open to the idea of senior living and are willing to spend the money”. Founded in 2011, Epoch Elder Care originally started as a provider of home care services and personnel before transitioning into the assisted living space. It follows a rental model, entailing a one-time deposit and monthly rental fee, which is better suited to middle class customers. Epoch has three retirement homes with monthly fees of $1,800 for short-term single occupancy guests and $1,350 for long-term guests, which excludes the rather-high 18% GST rate on senior living. Around 60% of Epoch’s residents are dementia patients, which limits the amount of residents per facility. Mohanty is optimistic about his company’s prospects given the country’s increasing awareness about dementia and the growing number of senior citizens. By 2022, Epoch plans to have as many as 12 facilities, with an average of around 50 guests each, operating all over India. The sense of stigma attached to senior living, while declining, is still a consideration for the relatively well-off. Rachna (name changed), a corporate lawyer in her 40s, says that the decision to send her father to a retirement home outside Gurgaon last year was not an easy one. “My friends felt that I was relinquishing my sense of duty,” she said, “and my father likened the experience to being sent to jail”. However, she feels that it was the best option since she and her husband had full-time jobs and two teenage children to take care off. Now, her father, a former stroke victim and arthritis patient, benefits from round-the-clock care and companionship in the facility. No respite at the bottom Senior living seems to be an effective solution for people who can afford it, but for the hundreds of millions that can’t, their options are few and far between. At the lower end of the spectrum, the government-operated old age homes, which feature dormitories instead of rooms, are understaffed and in a deplorable condition, according to Matthew Cherian, the chief executive of HelpAge India. There are a number of cheaper nursing homes that are run by private owners, however quality is still an issue given the lack of government-imposed industry standards. And some of these also operate without licenses and accreditation. In 2012, <a href="https://timesofindia.indiatimes.com/city/pune/68-nursing-homes-dont-have-licences/articleshow/13238672.cms">68 nursing homes </a>were found to be operating illegally in Pune. A variety of non-profit organisations like HelpAge India also run and support old age homes, but the supply of beds in such homes is drastically outweighed by the number of people that need them. As I write this, it’s been more than 13 months since my father’s last stroke. He’s in good spirits. He’s been eating well and going for walks every evening with other senior citizens in our gated community in Gurgaon. He has moved past his initial resistance and softened his stance towards senior living facilities, in anticipation of my eventual departure from home. “If I have to go one day, I’ll go”, he says. “Maybe I can get my friends to come with me too”. If only other Indians like him had the same option.

Here's what the future of the senior living industry looks like for 25% of India’s population

At 19, I left my job to build a billion-dollar company. But I didn't do it, and considered myself a failure for years until I made a critical change in my thinking

MUMBAI: The markets are on a roll, with the <keyword id="6484188" type="CITY" weightage="20" keywordseo="Sensex">Sensex</keyword> and Nifty making fresh life highs, led by gains in banks, auto and energy counters. 
 
The new life high for Sensex is 26,356.24; and that for Nifty is 7,865.85. 
 
The Nifty extended its winning streak for fifth consecutive session and hit an all-time high as FIIs continued to pump in dollars in Indian markets on expectations of pick-up in economy 
 
Sudip Bandyopadhyay, President, Destimoney Securities, is of the view that the market will continue to move upwards. 
 
“A lot of FIIs money is coming out of Russia into Indian markets through BRICS fund. Domestic investors are also entering the market and that is providing support,” said Bandyopadhyay. 
 
At 2:02 p.m.; the 50-share index was at 7,860.95, up 69.25 points or 0.89 per cent. It touched an all-time high of 7,865.85 and a low of 7,779.20 in trade today. 
 The S&amp;P <keyword id="35140" type="CITY" weightage="20" keywordseo="BSE">BSE</keyword> Sensex was at 26,340.82, up 237.59 points or 0.91 per cent. It touched an all-time high of 26,356.24 and a low of 26,075.28 in trade today. 
 
Sandeep Tandon of Quant Broking is of the view that market went through consolidation in the last three months. It is light at the moment and looks set for next leg of upmove. 
 
The CNX Midcap Index rallied 1.27 per cent and the CNX Smallcap Index surged 2.10 per cent. 
 
Among the sectoral indices, the CNX Bank Nifty was up 1.49 per cent, the CNX Auto Index gained 1.02 per cent, the CNX Energy Index rose 1.42 per cent. 
 
The CNX FMCG Index was down 0.75 per cent and the CNX IT Index slipped 0.51 per cent. 
 BPCL (up 5.25 per cent), <keyword id="6355975" type="CITY" weightage="20" keywordseo="Axis-Bank">Axis Bank</keyword> (up 3.11 per cent), <keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword> (up 3.04 per cent), BHEL (up 2.91 per cent) and Tata Motors (up 2.87 per cent) were among the major Nifty gainers. 
 
ITC (1.92 per cent), Infosys (1.01 per cent), HCL Tech (0.80 per cent), HDFC (0.70 per cent) and TCS (0.68 per cent) were among the index losers. 
 
The market breadth was positive on the NSE with 1090 gainers against 425 losers. 
 
Foreign institutional investors were net buyers worth Rs 625.18 crore and domestic institutional investors were net buyers worth Rs 135.75 crore on Thursday as per the provisional data from the National Stock Exchange. 
 
D-Street highlights @ 2 pm 
 
Cairn India: Plan pipeline to connect field to Gujarat gas grid 
 
Cairn India: Sees significant gas volume potential in Rajasthan 
 
Cairn India: Raageshwari deep field may hold 1-3 TCF gas 
 
ET NOW ALERT: Top Gainer On CNX Small Cap Index Alok Inds Price:12.3 Change: +1.35 Percent Change: +12.33% 
 
ET NOW ALERT: Up For 2nd Day CNX SMALL CAP Price:4979.95 Change: +118.3 Percent Change: +2.43% 
 
ET NOW ALERT: Top Gainer On CNX 200 Index AIA Engineering Price:844 Change: +56.6 Percent Change: +7.19% 
 
Sources Say: JSW Energy in talks to buy Bina, Nigrie power assets of JP Power 
 
Sources Say: JSW Energy says: Continue to evaluate opportunities 
 
Sources Say: Bina Power Plant's EV is pegged at around Rs 3,500 cr 
 
Sources Say: Alert: JP's Nigrie Thermal Power project to have capacity of 1,320 MW 
 
ET NOW ALERT: All 12 lenders in Bank Nifty post gains
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Tata Motors To ET NOW: Plan to increase exports by 25% over the next 3 years 
 
Tata Motors To ET NOW: Co to launch 25 new commercial vehicles in FY15 
 
Tata Motors To ET NOW: Will spend Rs 1,200-1,500 cr this fiscal on new product development 
 
Tata Motors To ET NOW: Expect FY15 M&amp;HCV sales to be 10% higher than last fiscal 
 Adrian Mowat: <keyword id="16898" type="PERSON" weightage="20" keywordseo="Spike">Spike</keyword> in crude oil prices can derail India's growth story 
 
ET NOW ALERT: Hits Fresh Record High SENSEX Price:26297.42 Change: +194.19 Percent Change: +.74% 
 
Adrian Mowat: Underweight on consumer staples, defensive stocks 
 
Adrian Mowat: India's divestment programme has potential to take mkt higher 
 
@ 1 pm 
 
Quant Broking: Bullish on IT stocks on good US economic recovery 
 
Quant Broking: Not optimistic on auto stocks currently 
 
Quant Broking: Positive on mid-cap pharma, cement stocks 
 
Quant Broking: Bullish on pharma, cement, IT banks, PSU oil &amp; gas stocks 
 
Quant Broking: Market is poised for next leg of the bull rally 
 
ET NOW ALERT: Hits Fresh Record High NIFTY Price:7840.3 Change: +48.6 Percent Change: +.62% 
 
JUST NOW: Harsh Mariwala raises stake in Marico Kaya to 2.21% from 1.94% 
 
Atlanta: Signed an agreement with Gujarat Govt to set up entertainment city 
 Fin Min Sources: Alert: In 2008, UTI AMC deferred <keyword id="6354763" type="EVENT" weightage="20" keywordseo="IPO">IPO</keyword> plans 
 
Fin Min Sources: Alert: SBI, BoB,PNB,LIC currently hold 74% stake in UTI AMC 
 
Fin Min Sources: SBI, BoB, PNB to seek board approval to cut stake in UTI AMC 
 
Fin Min Sources: Government looking to list UTI AMC 
 
@ 12 pm 
 
Edelweiss Financial: Q1 IIP growth has been at 4%, indicating a sharp pick up 
 
Edelweiss Financial: Expect exports to grow at 7-8% on a monthly basis 
 
Edelweiss Financial: Need to monitor export demand from US, Europe &amp; Japan 
 
Edelweiss Financial: Trade deficit is not a concern at current juncture 
 
Edelweiss Financial: Agri output remains weak due to delayed monsoon 
 
Edelweiss Financial: Lower crude oil prices will help inflation to cool off as well 
 
Edelweiss Financial: Crude oil prices correcting is positive for twin deficits 
 
Mythili Bhusnurmath: IEA has stated oil consumption may be lower than last year 
 
Mythili Bhusnurmath: Most economic data is within consensus estimates 
 
Mythili Bhusnurmath: Economic data in Q1 has not been disappointing 
 
Mythili Bhusnurmath: Expect EXIM policy to be announced by end of the month 
 
Reliance Comm: Expect to bring down debt by another Rs 10,000 cr 
 
Reliance Comm: Net debt to EBITDA ratio to be below 2.5-3 levels 
 
Reliance Comm: Thrust on CDMA biz has helped achieve a turnaround 
 
Reliance Comm: Had a healthy revenue growth of Rs 4,571 cr, up 2% QoQ 
 
Reliance Comm: Net debt on books at Rs 35,500 cr from Rs 40,000 cr previously 
 
Reliance Comm: Raised Rs 6,100 cr in Q1 via QIP; Promoters invested Rs 1,300 cr 
 
@ 11 am 
 
Meghmani Organics: Have completed investments in capex for FY15 
 
Meghmani Organics: Aim to grow by 25% in topline &amp; bottomline in FY16 
 
Meghmani Organics: PAT likely to be around Rs 55 cr in FY15 
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Meghmani Organics: Expect a topline of Rs 1,550 cr &amp; EBITDA of Rs 250 cr for FY15 
 
Meghmani Organics: Target a business of Rs 600 cr for agro chemicals segment 
 
ET NOW ALERT: 1.21 Lk Shares Trade In A Block Axis Bank Price:382.7 Change: +4.9 Percent Change: +1.3% 
 <keyword id="6358584" type="CITY" weightage="20" keywordseo="HSBC">HSBC</keyword> AMC: Constructive on select financial stocks 
 
HSBC AMC: NPAs for banks will remain a overhang till economy recovers 
 
HSBC AMC: Expect a real change in economy only by 2015 
 
ET NOW ALERT: 50,000 Shares Trade In A Block Ambuja Cem Price:214.85 Change: +3.95 Percent Change: +1.87% 
 
HSBC AMC: Recommend being invested in quality stocks 
 
HSBC AMC: Will remain selectively invested in consumer stocks 
 
HSBC AMC: Oil &amp; gas stocks will move up if under-recoveries continue to fall 
 
HSBC AMC: Upside in auto stocks seem to be overstated 
 
HSBC AMC: Will adopt a wait &amp; watch strategy on oil &amp; gas stocks 
 
RCF Says: Need to look for overseas JVs for phospahtic fertiliser 
 
RCF Says: Govt is looking at restarting urea plants which have shutdown 
 
RCF Says: Gas availability &amp; pricing issues need to be sorted for fert sector 
 
@ 10 am 
 
Reliance Capital: Waiting for all bank licence guidelines before applying 
 
Reliance Capital: Expect profit growth of 15% to continue for AMC biz 
 
Reliance Capital: Commercial finance loans have grown by 10-11% on YoY basis 
 Reliance Capital: Premium growth in general <keyword id="35450" type="COMPANY" weightage="20" keywordseo="insurance">insurance</keyword> at 11% in Q1 
 
Adi Godrej: Govt's reforms need to be implemented quickly 
 
Adi Godrej: Hope GST is implemented by April 2015 
 
Adi Godrej: PM Modi's August 15 speech will have an impact 
 
Dimensions Consulting: Have been building position in Reliance Infra 
 
Dimensions Consulting: Jubilant Foods is an expensive stock at current levels 
 
Dimensions Consulting: Prefer Indian Oil &amp; BPCL to ONGC 
 
Dimensions Consulting: Remain bullish on Pharma, FMCG, IT sectors 
 
Dimensions Consulting: Will focus on quality stocks which aren't highly leveraged 
 
ICICI Direct: Prefer TCS to Infosys at current juncture 
 
United Bank: Bank consolidation will be positive for the sector 
 
ICICI Direct: New management of Infosys will be positive for stock 
 
United Bank: Bhushan Steel remains a standard account 
 
United Bank: Bankers to meet on Bhushan Steel loans today 
 
United Bank: Set a target of Rs 1,200-1,300 cr for recovering bad loans 
 
ET Now spoke to various experts and here's what they have to recommend for today's trade: 
 
Ashwani Gujral of ashwanigujral.com 
 
Yes Bank Ltd is a 'BUY' call with a target of Rs 575 and a stop loss of Rs 540 
 
Bharat Forge Ltd is a 'BUY' call with a target of Rs 790 and a stop loss of Rs 766 
 
IndusInd Bank Ltd is a 'BUY' call with a target of Rs 575 and a stop loss of Rs 540 
 
RIL Ltd is a 'BUY' call with a target of Rs 1040 and a stop loss of Rs 990
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Sandeep Wagle, Founder &amp; CEO, Power My Wealth 
 
Yes Bank Ltd is a 'BUY' call with a target of Rs 575 and a stop loss of Rs 544 
 
BPCL is a 'BUY' call with a target of Rs 688 and a stop loss of Rs 623 
 
AIA Engineering Ltd is a 'BUY' call with a target of Rs 910 and a stop loss of Rs 826 
 
Tata Motors Ltd is a 'BUY' call with a target of Rs 528 and a stop loss of Rs 480 
 
Prakash Gaba, CFT, prakashgaba.com 
 
HDFC Bank Ltd is a 'BUY' call with a target of Rs 845 and a stop loss of Rs 825 
 
Tata Motors DVR is a 'BUY' call with a target of Rs 370 and a stop loss of Rs 345 
 
ZEE Entertainment Ltd is a 'BUY' call with a target of Rs 285 and a stop loss of Rs 273 
 
Abhishek Karande, CMT, Technical Analyst - Institution Research, SBICAP Securities 
 M&amp;M <keyword id="6354241" type="COMPANY" weightage="20" keywordseo="Financial-Services">Financial Services</keyword> Ltd is a 'BUY' call with a target of Rs 300 and a stop loss of Rs 248 
 
HPCL is a 'BUY' call with a target of Rs 465 and a stop loss of Rs 409 
 
UltraTech Cements Ltd is a 'BUY' call with a target of Rs 2850 and a stop loss of Rs 2610 
 
Mayank Mehta, Derivative Analyst, KIFS Securities 
 
IndusInd Bank Ltd is a 'BUY' call with a target of Rs 575 and a stop loss of Rs 525 
 
Hero MotoCorp Ltd is a 'SELL' call with a target of Rs 2450 and a stop loss of Rs 2600 
 
Lupin Ltd is a 'BUY' call with a target of Rs 1225 and a stop loss of Rs 1150 
 
A K Prabhakar, Independent Market Expert 
 
L&amp;T Ltd is a 'BUY' call with a target of Rs 1600 and a stop loss of Rs 1480 
 
Yes Bank Ltd is a 'BUY' call with a target of Rs 610 and a stop loss of Rs 538 
 
Rallis India Ltd is a 'BUY' call with a target of Rs 254 and a stop loss of Rs 214 
 
(Views and recommendations expressed in this section are the analysts' own and do not represent those of EconomicTimes.com. Please consult your financial advisor before taking any position in the stocks mentioned.)

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