India's GIG Economy: "The Rise of Freelance India"

India's digital revolution-driven by cheap data, widespread smartphone use, and expanding broadband-has laid the foundation for the gig economy. Platforms like Swiggy, Ola, and Urban Company use real-time tech to match workers with demand instantly, enabling flexible and accessible work opportunities.

- Kshitiz Srivastava Chief Manager (Faculty) Union Bank of India Zonal Learning Centre Lucknow

Introduction

The global economy is witnessing a significant transformation with the rise of the gig economy - a labour market characterized by short-term contracts, freelance work, and on-demand services as opposed to traditional full-time employment. In India, this shift is particularly prominent, driven by technological advances, changing work preferences, and the expansion of digital platforms. The gig economy offers flexibility and independence to workers while enabling businesses to reduce costs and scale rapidly. However, it also poses significant challenges related to job security, labour rights, and social protection.

The term "gig" originates from the music industry, where artists would take on short-term engagements or "gigs." Over time, it came to signify any form of freelance, shortterm, or flexible employment, especially facilitated by digital platforms.

In India, the gig economy began gaining momentum with the emergence of technology-driven companies like Ola, Uber, Swiggy, Zomato, and Urban Company. These platforms not only changed the way services are delivered but also how labour is organized. Instead of hiring full-time workers, these companies leveraged independent contractors, offering task-based work. This model soon expanded beyond transportation and food delivery to include areas like content writing, IT services, graphic design, housekeeping, tuition, and even legal or financial consultancy.

Scope & Growth Current

Size and Employment Trends in India: According to the report of NITI Aayog in 2022 the country had around 7.7 million gig workers in 2020-21, and this number is projected to grow to 23.5 million by 2029-30. This would account for nearly 4% of India's total workforce.