Gig economy set to be formalised

Hyperlocal service platforms have revolutionised the job landscape in the transportation, food delivery, and home services industries by creating flexible employment

- Sowmya Ramasubramanian

and logistics firms will see massive benefits as formalisation kicks in," said Madhav Krishna, founder and chief executive of Vahan.ai, a blue-collar recruitment platform in Bengaluru. More than 85% of India's workforce is informal and a majority of it comprises gig workers, according to TeamLease's Narayanan. Online commerce and logistics platforms are among the biggest employers of gig workers in the form of delivery agents and dark-store workers. These workers have become pivotal to the operations of the platforms as speedy and efficiency deliveries boost brand loyalty and customer satisfaction. The number of gig workers in India is expected to increase from 7.7 million in 2024 to 23.5 million by 2029-30, Niti Aayog estimates.