The freelance economy in India has witnessed extraordinary growth, transforming from a niche working arrangement into a mainstream career choice. With more than 15 million active freelancers and an industry projected to reach $50 billion by 2032, the sector represents a significant shift in how Indians approach work. In specialized fields like finance, Indian freelancers are commanding impressive rates of up to $71 per hour, well above the global average of $41. This surge reflects the increasing global recognition of Indian talent, coupled with the cultural and technological shift that has made cross-border collaboration seamless.
Global freelancing platforms like Upwork, Fiverr, Toptal and several others have played a major role in democratizing access to work, making it easier than ever for freelancers to connect with global clients. Most platforms operate on a commission-based model, charging between 10% and 20% on earnings. However, apart from the service fees/commission, freelancers also face a multitude of additional charges, including transaction costs, currency conversion fees, and various platform-specific charges that can substantially reduce their actual income.
Esta historia es de la edición December 23, 2024 de Mint Chennai.
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Esta historia es de la edición December 23, 2024 de Mint Chennai.
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Services exports save the day for current account in Sep quarter
A rise in services exports helped narrow India's current account deficit (CAD) in the September quarter, although this marked the second consecutive quarterly deficit after hitting a surplus in the final three months of FY24.
Sebi Issues Circular on Share Transfer
The circular provides clarity on the rules surrounding ownership transfers in intermediary cos
UltraTech to Acquire Minority Stake in Star Cement
UltraTech Cement on Friday said it will acquire a minority stake of 8.69% from the promoters of Meghalaya-based Star Cement in a deal worth up to ₹851 crore.
Rupee falls to record low as dollar bids spike
The rupee fell to an all-time low on Friday, as maturing non-deliverable forwards and currency futures boosted dollar demand, while the sharp fall led to panic dollar buying by importers.
JSW Neo to acquire O2 Power; EQT and Temasek to exit
The transaction entails acquisition of O2 Power Midco Holdings and O2 Energy SG, and is subject to customary nods
Rural-urban consumption gap shrinks in 2023-24
The monthly per capita consumption expenditure rose to ₹4,122 in rural areas and ₹6,996 in urban areas
Escorts Kubota's ride is bumpy amid demand concerns
Escorts Kubota Ltd continues to grapple with the challenges of weak export volumes and subdued construction equipment demand.
India's Textile Exports a Silver Lining as Trade Deficit Widens
Experts attribute this growth to govt policies, trade deals, and adoption of new technologies
The Archetypical Insider Who Guided India Towards Its Economic Potential
During Singh's tenure at RBI, India embraced a more flexible exchange rate to promote exports
A Vision
Former prime minister Manmohan Singh's tenure (2004-2014) witnessed significant reforms that profoundly impacted India's economy, governance, and social infrastructure. His reforms focused on pressing issues such as poverty alleviation, education, healthcare, and corruption. Mint takes a look at the key reforms that reflect Singh's enduring legacy.
