Realistic picture, “Rise in the graphs of gig Economy-India”

In today’s economy, where jobs have been replaced by portfolios of projects, most people
find themselves doing more things well for two-thirds of the money.

People either they are rich or poor, they wish to have money. Rich wants to become richer
and poor wats to earn money to run their homes. This pandemic has turned cycles for gig
workers to good. COVID has increase the potential of riders, free lancers, Uber and Careem
drivers etc. with increasing of technology, it enables rise in gig workers over 200 Million
globally.

In India, gig economy serves up to 90 Million (out of which 35 Million gig workers are
skilled or semi-skilled) people which contributes to 1.25% of India’s GDP. The four sectors
which have high proportion in gig economy are: manufacturing, construction, retail, and
transportation and logistics. As it can be witnessed the uncertainty of pandemic. Gig
economy will further increase where companies will face win-win situation. Currently,
companies aren’t hiring full time employees, gig workers will enable the opportunities to
work accordingly with flexible work hours and autonomy of workers. It is stated that large
population of gig economy comprises of millennials and Gen z, who are in great search for
jobs. 50%-76% of the workforce in service sectors comprising of white-collar gig workers.

Apart from COVID, it is evident that gig economy will grow for the fact that the rate of start-
ups is increasing. It is stated that “For many of these companies, especially start-ups, the pace
of growth is determined by time, so time is of the essence here. Therefore, a fast-moving
start-up is also seeing a frenetic pace of change. What you are doing now may not be the
same as to what you would do six months later. That's why a gig worker is needed here”.

India’s gig economy is to triple in upcoming 3-4 years, providing 24 million jobs. It is also
expected in gig economy; women participation will be more. As there will be more
employment, gig workers will help India to drive job creation and growth. For the betterment
of gig economy, in FY22, there will be database that will keep record of gig workers. Due to
increasing potential of gig workers, there is set of competitive pricing for gig services. As the
demand of gig workers increasing, gig workers demand for transparency, availability of work
and timely payment.

Gig workers have adequate rights which includes health benefits, minimum wages and sick
leaves. Not only this, even gig workers are provided with skills and assessment to adapt the
workplace. Currently, due to COVID, markets have been shifted to digital markets, gig
workers are expected to enhance their tech skills and it is stated that only 49.2% of India’s
labour force is digitally skilled, according to WEF report.

All in all, the potential of gig economy in India is massive. The new government is
establishing legislation for gig economy which will go a long way in empowering and
motivating many more to take the flexi work path.
References
https://www.groupdiscussionideas.com/the-rise-of-the-gig-economy/
https://www.bcg.com/en-in/unlocking-gig-economy-in-india
https://media-publications.bcg.com/India-Gig-Economy-Report.pdf
https://www.livemint.com/news/india/gig-economy-may-service-90-mn-jobs-in-non-farm-
sector-11617098463776.html
https://www.tribuneindia.com/news/jobs-careers/how-gig-economy-is-becoming-
mainstream-in-india-240369