According to a report by the Boston Consulting Group, the gig economy has the potential to service up to 90 million jobs in India’s non-farm economy alone, transact over $250 billion in volume of work, and contribute an incremental 1.2% to India’s GDP over the long term. The report was brought out in partnership with the Michael & Susan Dell Foundation.
The 4 largest industry sectors – construction, manufacturing, retail, and transportation & logistics – could account for over 70 million of the potentially ‘gigable’ jobs.
In the short-medium term, nearly 24 million jobs in skilled, semi-skilled and shared services roles could be delivered via gig, including nearly 3 million shared services roles and around 8.5 million roles meeting household demand.
Rajah Augustinraj, BCG principal and the lead author of the report, remarked, “The gig economy presents a real opportunity for India to drive job creation and economic growth. Technology platforms operating at-scale within an ecosystem of information and services can help unlock efficiencies, bring demand-supply transparency, and drive greater formalisation and financial inclusion. Our work puts numbers, specificity and a roadmap to unlock this potential for India.”