What reasons do you see behind the phenomenal increase of gig economy in India? Is it a temporary boom or will last long? Is it going to replace traditionally hired workforce?
RR Gig economy as a concept has been in the existence in India for a long time. With India’s large informal economy ranging from daily wage laborers to temporary farm workers, which is equivalent of gig work that has been in India across rural and urban areas.
With the ongoing COVID-19 pandemic, organisations and employees have been pushed to get accustomed to new ways of working. The increased digitization and platformization has boosted the gig economy. According to BCG, the number of flexi or gig jobs could soar to 90 million in 8-10 years, with total transactions valued at more than $250 billion, contributing an incremental 1.25% to India’s gross domestic product (GDP). The increase in the growing young digital young population coupled with the increasing...
