Main Factors Driving the Rapid Expansion of the Gig Economy.
VS The gig economy in India has expanded rapidly due to a combination of economic, demographic, and technological factors. First, youth demographics play a major role- India has one of the youngest workforces globally, with over 65% under the age of 35. Many of these workers seek flexible earning opportunities over traditional long-term employment. Second, digital penetration through smartphones and low-cost data has enabled platforms like Swiggy, Ola, and Urban Company to connect millions of gig workers with customers seamlessly. According to NITI Aayog, India’s gig workforce is projected to reach 23.5 million by 2029-30, nearly doubling from current levels.
Economic pressures such as rising living costs and stagnant entry-level wages in the formal sectors push individuals to supplement income through gig work. In metropolitan and tier-2 cities, festival seasons-Diwali, Eid, or Durga Puja-see a sharp surge in demand for e-commerce deliveries, cab services, and...
