India's gig economy could add 90 mn jobs enabled by large multinationals

The gig economy is projected to grow at a compounded annual growth rate (CAGR) of 17% and reach a gross volume of US$ 455 billion (Rs. 38,42,475 crore) by FY24, according to a white paper from the Forum for Progressive Gig Workers. The sector’s contribution to India’s gross domestic product (GDP) could be significant, potentially adding 1.25% by FY30 and creating 90 million jobs in the long term. The gig economy supports industries such as e-commerce, transportation, and delivery services. The white paper, unveiled during a webinar on ‘Shaping the Future of Work: Empowering India’s Gig Economy,’ highlights the positive impacts of gig work, including alternative revenue streams, increased opportunities for women, and broader workforce integration.

The report emphasises the growing importance of gig workers in India, with the sector expected to employ 23.5 million workers and contribute 1.25% to GDP by FY30. Tier-II and Tier-III cities are emerging as growth hubs, with platforms driving welfare initiatives to improve working conditions. Companies like Amazon, Walmart’s Flipkart, Zomato, and Swiggy are enhancing the well-being of their workforce by providing essential support, such as raincoats during monsoons and access to resting areas and water during extreme weather. However, experts caution against equating full-time and gig work, urging that overburdening employers with excessive welfare requirements could harm both the flexibility of the gig economy and the overall labour market. The panellists stressed the need for industry-best practices and flexible, standardised guidelines to enhance efficiency, support gig workers, and contribute to India’s economic growth.

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