Gig Economy Could Add 90 Million Jobs Over Time

New Delhi: India’s gig economy could add 90 million jobs, enabled by large multinationals, and add 1.25 per cent to the country’s GDP over time, according to a report on Thursday.

Gig economy supports sectors such as e-commerce, transportation and delivery services, among others, and the market is expected to grow at a compound annual growth rate (CAGR) of 17 per cent to reach a gross volume of $455 billion by 2024, according to the report by The Forum for Progressive Gig Workers.

Gig economy has created millions of non-farm jobs, with e-commerce alone generating over 16 million roles. “The report presents an initial effort to analyse the evolving dynamics between large companies and gig workers. It is a valuable starting point for understanding the challenges and opportunities within this sector,” said K Narasimhan, Convenor, Forum for Progressive Gig Workers.