Embracing Gig culture - A paradigm shift in working culture and its ecosystem

Abstract

The Indian gig economy has been growing year after year, and with it, has come an increase in the blue-collar workforce. According to ASSOCHAM, India's gig economy is predicted to reach $455 billion by 2024, growing at a compound annual growth rate of 17%, with the potential to grow at least double the pre-Covid-19 forecasts. According to studies, the total need for jobs in 2021 will be 14 lakh, with the gig economy accounting for 80% of that demand. Needless to say that the gig economy prevailed for sometime earlier but then this industry has never seen such rapid expansion. The objective is to ride this wave of expansion and leverage this sector with all of the necessary components. This paper provides insights into Gig economy as well as mentions the latest trends that are taking place in Gig economy