What reasons do you see behind the phenomenal increase of gig economy in India? Is it a temporary boom or will last long? Is it going to replace traditionally hired workforce?
SG The world has seen a Technological Revolution over the last decade, which is primarily led by the growth in start-up eco-system in India. These start-ups primarily focus on ease and convenience to consumers through mobile apps, and hence have seen a tremendous growth especially during the pandemic.
The millennials are highly fascinated with such initiatives, as it provides them several unconventional job opportunities through contractual assignments or freelancing, and ways to make quick money, sometimes without a professional degree. The organisations are also looking at contractual employees, who are good at multitasking and possess multiple skills, as hiring full time employees lead to additional fixed costs and expenses.