India’s gig or flexible economy is forecast to triple in the next 3-4 years according to a new report by Boston Consulting Group (BCG) and the Michael & Susan Dell Foundation. This would bring the employee number up from the current 8 million to 24 million. The increase in the flexible workforce will also bring better paid and higher skilled jobs.
The gig economy in India is still at a developing stage but it is expected that its flexibility will encourage employment for women. This will be by both increasing the number of jobs that migrate to a gig platform and also through an increase in supporting roles, the report said.
“The gig economy presents an opportunity for India to bridge the demand-supply gap with greater efficiencies in delivery resulting at lower costs, so growing demand”, said Rajah Augustinraj, principal, BCG, and the lead author of the report.
“During the lockdown there was an increase in the number of gig workers in India. People who had lost jobs were finding gig opportunities closer home. The gig economy has the potential to help people in the unorganized sector learn new skills and help them build a better quality of life for themselves and their families,” said Rahil Rangwala, director, India Programs, Michael & Susan Dell Foundation.