Unveiling the Impact of the Gig Economy on Workforce Dynamics in India

The Indian economy is witnessing a paradigm shift in workforce dynamics due to fast adoption of the internet and increasing penetration of smartphones and digital platforms. The present study seeks to understand the economic contribution of gig economy from the perspective of Indian economy. It will assess the challenges posed by the gig economy for the workforce and to comprehend the impact of platform-based gig work on economic empowerment of workforce in India. The allure of gig economy lies in its flexible work environment, independence, opportunities to work in areas of interest, and better work-life balance. However, it poses many challenges to freelancers, including low-paid jobs, the plight of female gig workers, lack of social benefits, and job security. Therefore, policymakers need to design interventions that address the nuanced intricacies of the platform-based gig economy to guarantee full rights, benefits, and protection, while also creating an enabling environment for its sustainable growth.