THE GIG ECONOMY & ITS VULNERABLE WORKFORCE

IN RECENT YEARS, the contours of the global workforce have been reshaped by the emergence of the gig economy – a disruptive force that has redefined conventional notions of employment and granted unparalleled freedom to individuals.

This modern phenomenon, celebrated for its flexibility and autonomy, also presents a complex tapestry of uncertainties and vulnerabilities. In no place is this transformation more pronounced than in India, where millions of gig workers are poised to wield considerable influence over the evolving economic landscape. As we probe the intricacies of the gig economy, a nuanced narrative emerges – one that illuminates both the prospects for empowerment and the pressing need for comprehensive policies to ensure the security and well-being of its participants.

Dual Nature of the Gig Economy: The gig economy’s advent heralds a profound shift in the structure of modern labour. Disrupting age-old conventions, this novel economic paradigm intertwines flexibility, autonomy, and an ever-evolving range of tasks – a siren call for a generation disillusioned with conventional employment’s constraints. The allure of boundless freedom conceals, however, the precarious existence lurking beneath. India, the epicentre of the gig economy’s ascent, grapples with a two-fold challenge: seizing the remarkable opportunities it presents and fashioning safeguards to shelter worker rights and economic equilibrium.