India’s Gig Workers May Service 90 Million Jobs In Next 8-10 Years

The flexi workforce will evolve and gradually shift to better paid and high-skilled jobs, said BCG report

India’s gig economy is set to triple over the next 3-4 years to 24 million jobs in the non-firm sector from the existing 8 million, said a new report by consulting firm Boston Consulting Group (BCG) and Michael & Susan Dell Foundation.

The number of flexi or gig jobs could soar to 90 million in 8-10 years, with total transactions valued at more than $250 billion, contributing an incremental 1.25% to India’s gross domestic product (GDP), it said.

India’s gig economy is still at a nascent stage, but the young and not-so-skilled flexi workforce will gradually shift to better-paid and more productive work, the report said. “We estimate that the gig economy has the potential to service up to 90 million jobs in India’s non-farm economy alone, transact more than $250 billion in volume of work, and contribute an incremental 1.25% approximately to India’s GDP over the long term.”

Source: livemint

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