According to the 

Internal Labour Organisation approximately

60 percent of the world’s population participates in the
informal sector.
Although this is mostly prevalent in emerging and developing
economies, it is also an important part of advanced
economies.
In developing countries like India, large share of the
population typically depends upon the informal economy.
The economic growth and development in general and
livelihood and wages in particular of the vast majority of
workers in India crucially depend on the economic viability of
the informal sectors.
the informal economic system provides a beginning of
income for a great figure of people.