BEYOND THE GIG: Shaping the Future For India's Emerging Workforce
This article unfolds the current landscape of the gig economy in India, highlighting organisational and governmental roles in fostering a stable and inclusive job market.
Gig workforce in India has witnessed significant growth, offering flexible job opportunities across various sectors, including transportation, logistics, and digital freelancing. Niti Aayog forecasts a rise in the gig workforce from 7.7 million in 2020-21 to 23.5 million by 2029-30, which will account for 4.1% of the total workforce.
While the flexibility and independence of gig work attract many, this article highlights challenges such as job insecurity, low wages, and limited career progression opportunities, which pose challenges for workers dependent on gig jobs as their primary income source.
To address these challenges, there is a need for collaborative efforts between businesses and the government. Companies which engage gig workforce should incorporate skill development and social security into their ESG strategies, providing fair labor practices, and career progression pathways. Government initiatives should focus on expanding social security coverage, regulating platform work, and defining gig work as institutional employment to ensure fair treatment and support for gig workers.
There is a high potential of the gig economy to capitalize on India's demographic advantages, but achieving this requires significant policy interventions and a responsible approach by the stakeholders involved.
