A Budget solution to India's skilled workforce challenge: Unleash the Gig contingent
workforce. The country's low productivity levels, rather than low wages, pose a challenge. One solution to this challenge is to enable the gig workforce.
The gig economy is multiplying as more people take temporary, flexible jobs through digital platforms. In India, there are currently around 7 million gig workers, and this number is expected to rise to 25 million by 2030, with a compound annual growth rate of almost 12%.
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This growth is transforming the labour market and altering the models of employees, employers, and employability. The government's policies and investments will be vital in shaping and accelerating this growth. Many countries worldwide are experiencing similar changes, but India has the opportunity to lead the way. The gig economy can provide first-time employment and skill development opportunities, serving as a gateway to future workforce productivity.
A Budget solution to India's skilled workforce challenge: Unleash the Gig contingent
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Understanding the landscape
The gig economy encompasses a diverse range of jobs, such as delivery personnel, ride-hailing drivers, home service providers, and freelance professionals, providing workers with flexibility and independence while offering on-demand services to customers. Though once considered a lifestyle choice for high-income earners and consultants, it has now become a popular option for entry-level workers seeking diverse income sources and
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