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The gig workforce in India is expected to grow to 23.5 million by 2029-30, up from 7.7 million in 2020-21.
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Gig workers are not entitled to benefits like insurance and gratuity, and companies need to address social security initiatives for them.
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The gig economy may open up employment opportunities for various sections of workers, including youth, persons with disabilities, and women.
The Economic Survey 2024 has predicted a significant growth in India’s gig workforce, reaching 23.5 million by 2029-30. This represents a substantial increase from 7.7 million in 2020-21. Gig workers, who engage in temporary and freelance work, are not entitled to benefits like insurance and gratuity, unlike regular employees.
The survey highlights the need for effective social security initiatives for gig and platform workers. While policies like the Code on Social Security (2020) are in place, more needs to be done to address the challenges faced by gig workers. The gig economy has the potential to create employment opportunities for various sections of workers, including youth, persons with disabilities, and women.
As the gig workforce grows, companies like Urban Company, Zomato, Swiggy, Uber, and Ola will continue to be major employers of gig workers. The survey emphasizes the need for individually focused pension arrangements, as the traditional employer-employee relationship is disappearing.
