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LATEST NEWS UPDATES | Gig economy in India to employ 23.5 million by 2030, says NITI Aayog report -Isha Sahai Bhatnagar

Gig economy in India to employ 23.5 million by 2030, says NITI Aayog report -Isha Sahai Bhatnagar

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published Published on Jun 27, 2022   modified Modified on Jun 28, 2022

-Hindustan Times

Over 20% of the 7.7 million jobs in India’s gig economy are classified as high-skilled jobs and 31% as low-skilled jobs. The remaining 47% are classified as medium-skilled jobs

India’s gig economy is estimated to employ 7.7 million people and is set to nearly triple to 23.5 million by 2029-30, a new report by the NITI Aayog said on Monday.

The report, ‘India’s Booming Gig and Platform Economy’, is the first attempt by a policy think-tank to assess the current size of gig workers - those engaged in livelihoods outside the traditional employer-employee arrangement - and the employment generation of the sector.

The study estimated that the number of gig workers increased from 6.8 million in 2019-20 (1.3% of the country’s workforce) to 7.7 million in 2020-21 (1.5% of the total workforce), and could rise to 23.5 million workers in 2029-30 when it will account for 4.1% of the total workforce.

Retail trade and sales account for the largest share of gig workers, about 2.7 million, followed next by 1.3 million in the transportation sector. “About 6.2 lakhs (0.6 million) were in manufacturing and another 6.3 lakhs (0.6 million) in the finance and insurance activities,” the report said.

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Hindustan Times, 27 June, 2022, https://www.hindustantimes.com/business/gig-economy-in-india-to-employ-23-5-million-by-2030-says-niti-aayog-report-101656324945164.html


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