Gig economy: India’s sharing economy can create more than 9 crore employment opportunities in the coming time, as provided in a recent report. According to the report, the sharing economy can increase India’s gross domestic product (GDP) by 1.25%.
It will probably reach 455 billion dollars
The report published by the ‘Forum for Progressive Gig Workers’ states that the gig economy related to e-commerce, transportation, delivery services and other sectors is expected to grow at a compound annual growth rate (CAGR) of 17% until reaching 455 dollars. It is likely that in the coming years we will do so. The sharing economy has created millions of non-farm jobs so far, with e-commerce alone providing more than 1.6 million jobs.
Important role in economic development of India
The report’s coordinator, K Narasimhan, said the study is an initial attempt to understand the growing mobility between businesses and the self-employed. The sharing economy will play a vital role in India’s economic growth, contribute to employment generation, reduce income inequality and promote innovation in various sectors.
‘Social Security Code-2020’
The central government is also taking measures to ensure social security and social benefits for platform and gig workers. Recently, Minister of State for Labor and Employment Shobha Karandlaje said in the Lok Sabha that provisions like life and disability cover, accident insurance, health and maternity benefits were mentioned in the ‘Social Security Code-2020’, old-age security for platform and gig workers. ‘. It is. In addition, there is also a provision for the establishment of a Social Security Fund to finance the welfare scheme.
