Formalizing the Care Economy: A Strategic Imperative for Viksit Bharat 2047

The 'care economy'—encompassing the paid and unpaid labor involved in childcare, eldercare, and disability assistance—remains a critical, yet largely invisible, pillar of India’s socio-economic landscape. As India strides toward the vision of 'Viksit Bharat 2047,' the current fragmentation of care services presents a systemic barrier that disproportionately affects women, who continue to bear the primary burden of domestic caregiving.

The lack of robust, accessible, and affordable care infrastructure forces many women to exit the labor market or settle for precarious informal employment, thereby stifling India's potential for greater female labor force participation (FLFP). Furthermore, India is witnessing a demographic shift characterized by a burgeoning aging population. Without an organized, institutionalized care system, the pressure on households to manage the needs of the elderly will only intensify, potentially creating a 'care trap' that hinders intergenerational mobility and economic productivity.

To address this, policy experts are advocating for a holistic framework that treats care not as a private family responsibility, but as a public economic good. A transition toward an integrated model requires incentivizing the formalization of the care sector, increasing public investment in community-based facilities, and leveraging technology to bridge gaps in service delivery. By professionalizing the care workforce—which predominantly employs women—the government can simultaneously create new employment opportunities and empower domestic caregivers.

Aligning the care economy with national developmental goals requires a shift in fiscal priorities and a reimagining of social welfare schemes. Such an intervention would not only improve the quality of life for vulnerable populations but also act as a multiplier for economic growth, fostering a more inclusive and resilient society capable of sustaining the demands of a modern, developed nation.