The gig economy may provide 2.35 crore jobs by FY30: NITI Aayog

28 Jun 2022 , 09:31 AM

According to research by the government think tank NITI Aayog, India’s gig economy might employ 2.35 crore people by FY30, a three-and-a-half-time growth over the previous ten years.

As per India’s Booming Gig and Platform Economy: Perspectives and Recommendations on the Future of Work research, the gig economy employed almost 68 lakh people in FY20.

In FY20, there are expected to be 51.10 crore employed people in India. By FY30, the number is predicted to increase to 56.96 crores. Gig jobs, which are typically transitory and part-time, include everything from delivering food to driving for ride-hailing services like Ola and Uber.

According to the research, “at the moment, around 47 percent of gig employment is in medium level occupations, roughly 22 percent in high skilled jobs, and roughly 31 percent in low skilled jobs.”

However, the trend indicates that the concentration of employees with medium skills is steadily decreasing and rising among those with low and high abilities. According to the analysis, gig work with other talents will likely develop while the dominance of medium skills will likely last till 2030.

The estimate is “just suggestive and may not represent the full number of the gig labour,” it was noted, due to the dearth of employment statistics.

Amitabh Kant, the chief executive officer of NITI Aayog, claimed that the rising popularity of smartphones and the affordable cost of internet access had made it possible for digital platforms to flourish in India, with a variety of players providing solutions in industries like transportation, retail, and personal and home care.