Understanding The Gig Economy In India: Opportunities, Challenges And Need For A Legislation

Rashida Hussain1 & Akanksha Srivastava

ABSTRACT

The rapidly burgeoning gig workforce is ushering in a global economic revolution.3 The Gig Economy is defined as short-term and flexible work. In the past decade, gig work has seen tremendous growth globally. As per the Government of India’s report, (2020-21) about 77 lakh workers are engaged in gig work. This paper deals with the opportunities that gig work presents with thepromise of employment to low-skilled workers, possibly contributing greatly to India's gross domestic product (GDP). However, gig work comes with its challenges which puts the workers in a vulnerable position where the benefits of such work are outweighed by the exploitative practices of the online platforms. The question arises whether these workers are employees or independent contractors. Should they not be subject to any benefits of employment?

The paper further discusses how other countries have adapted to gig work and what laws or codes have been passed to regulate thegig economy compared to India. The paper is focused on the challenges and opportunities of daily wage gig workers. It is limited to the literature already available and does not create any quantitative data. The paper is a theoretical take on the growth and evolution of the gig economy and the benefits and challenges it currently has/faces along with an understanding of whether there is a need for legislation to regulate the growing gig economy in India.

Keywords: gig economy, regulation, gig workers, online platforms, independent contractors.