Summary:

According to the Forum for Progressive Gig Workers, the gig economy will grow at a CAGR of 17%, reaching $455 billion by FY24. It could contribute 1.25% to India's GDP by FY30, creating 90 million jobs. The industry supports sectors like e-commerce, transportation, and delivery services. The white paper highlights the positive impact of gig work, including alternative income, more opportunities for women, and workforce inclusion.

The report emphasizes the growing importance of gig workers in India, with the sector projected to employ 23.5 million people and contribute 1.25% to GDP by FY30. Tier-II and Tier-III cities are emerging as growth hubs, with companies such as Amazon, Flipkart, Zomato, and Swiggy improving working conditions. However, experts warn against burdening companies with excessive welfare regulations, advocating instead for industry best practices and flexible rules to ensure flexibility and growth.

Source: IBEF

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