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Digital economy drives job growth across sectors; gig workforce to reach 23.5 crore by 2030: Economic Survey

Economic Times

Economic Times · 6m ago

Digital economy drives job growth across sectors; gig workforce to reach 23.5 crore by 2030: Economic Survey

India's digital economy is significantly expanding job opportunities across various sectors, from transportation to home services, with platforms offering flexible employment. Quick commerce, notably 10-minute grocery deliveries, has surged, employing many gig workers. The Economic Survey 2024-25 highlights rapid job growth through hyperlocal services, estimating the gig workforce to reach 23.5 crore by 2030. Enhancing social security for gig workers, the government aims to address challenges like automation's impact on labor.

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Don’t tax the gig economy before it becomes robust

Money Control

Money Control · 1y ago

Don’t tax the gig economy before it becomes robust

The number of gig workers in India is expected to reach 23.5 million by 2029-30. Karnataka and Rajasthan are the first states to provide social security benefits to gig workers through taxation of businesses employing them. However, early taxation of gig economy businesses could have negative implications. The gig economy in India has the potential to create 90 million jobs, according to BCG. With the involvement of state governments in public finance for gig workers, the private enterprise is entering a new phase.

Tier I cities dominate in blue-collar gig job opportunities: Report

Economic Times

Economic Times · 1y ago

Tier I cities dominate in blue-collar gig job opportunities: Report

Gig economy opportunities in India are concentrated in tier-one cities, accounting for 67.1% of short-term blue-collar jobs from June 2023 to June 2024. These cities attracted 63.11% of job applications, while tier-two cities saw 26% of openings and 25% of applications. Tier-three cities had a lower proportion of job openings (6.7%) compared to applications (11%). Delhi emerged as the top hub for gig workers, followed by Mumbai, Bengaluru, and Pune. Back-office roles dominated the gig economy job market, with delivery executives and cooks also in demand. The rise in online marketing roles reflects the growing demand for digital skills in the gig workforce.

NCAER pitches for investment in skilling to increase jobs

Economic Times

Economic Times · 2m ago

NCAER pitches for investment in skilling to increase jobs

A paper by India's National Council of Applied Economic Research (NCAER) advocates investment in workforce skilling to boost employment in labor-intensive sectors by 2030. It highlights that skilled workforce increase could lead to significant job growth. The paper outlines strategies like stimulating demand, adopting global practices, and enhancing training quality. It emphasizes focusing on labor-intensive manufacturing and services and suggests that digital and soft skills can boost employability and address current skill mismatches.

Labour Ministry Forms Taskforce To Study Impact Of AI On Jobs

Inc42 · 1y ago

Labour Ministry Forms Taskforce To Study Impact Of AI On Jobs

Labour Secretary, Sumitra Dawra, emphasized the need for further research to assess the impact of Artificial Intelligence (AI) on employment in India. She also highlighted the rapid growth of the gig economy in the country, with the current number of gig workers estimated at nearly 10 million and projected to reach 24 million by 2030. These remarks follow previous statements by Tata Sons chairman N Chandrasekaran, who expressed concerns about job losses resulting from automation and the use of AI.

India's digital economy to contribute a fifth of national income by 2030: Govt

Economic Times

Economic Times · 7m ago

India's digital economy to contribute a fifth of national income by 2030: Govt

India’s digital economy is poised to grow nearly twice as fast as the overall economy, contributing one-fifth of the national income by 2030, as per the Ministry of Electronics and Information Technology. Digital intermediaries, platforms, and sectors such as cloud services and global capability centers are driving this growth. While digital transactions dominate banking, other traditional sectors are experiencing uneven digitalization. The digital economy’s growth rate is significantly outpacing the overall economic growth.

MC-Deloitte CEO Survey: India Inc expects Modi govt to present blockbuster budget

Money Control

Money Control · 1y ago

MC-Deloitte CEO Survey: India Inc expects Modi govt to present blockbuster budget

A Deloitte survey conducted for Moneycontrol revealed that nearly 80% of CEOs and CXOs in India are optimistic or very optimistic about the country's economic growth. The majority of respondents identified physical and digital infrastructure, a young skilled workforce and a large consumer base as key drivers of growth. They also expressed the need for bold reforms to boost manufacturing and job opportunities. The survey showed moderate confidence in achieving the Reserve Bank of India's inflation target, with many expecting no change in policy rates in the next six months. The survey also highlighted the desire for a simpler tax regime, digital clearance systems, and resolution of commercial disputes for ease of doing business.

Why India’s Startups Demand A New Breed of Leaders

Inc42 · 1y ago

Why India’s Startups Demand A New Breed of Leaders

India is aiming to become a $1 trillion digital economy, pushing companies to become more tech-enabled and digital-first. However, traditional business education is not keeping up with this shift, leaving a gap in preparing future leaders. To bridge this gap, ManagementX is being developed as a six-month program to upskill and train India's startup workforce, which is projected to reach five million by 2030. This program aims to transform ambitious professionals into high-impact startup leaders.

AI casts huge pall of uncertainty over impact on workers across skill levels: Economic Survey

YourStory

YourStory · 1y ago

AI casts huge pall of uncertainty over impact on workers across skill levels: Economic Survey

The Economic Survey highlighted the uncertainty surrounding the impact of Artificial Intelligence (AI) on workers of all skill levels. While recognizing the potential for AI to boost productivity and revolutionize the global economy, the survey also expressed caution about the disruption it may cause in certain sectors. Routine tasks, customer service, creative sectors, education, and healthcare are identified as areas where AI may bring about significant changes. The survey emphasized that AI's rapid pace of innovation and ease of diffusion will reshape the future of work.

NSDC, Rapido ink deal to facilitate skill development for gig workers

Economic Times

Economic Times · 4m ago

NSDC, Rapido ink deal to facilitate skill development for gig workers

The National Skill Development Corporation (NSDC) has partnered with bike taxi aggregator Rapido to enhance skill development for gig workers. The collaboration aims to improve employability by integrating trained individuals into the gig economy, offering part-time and full-time job opportunities. NSDC will develop training curricula focusing on technical, behavioral, and safety skills, providing certification to boost job readiness. This initiative aims to foster inclusive growth and enhance India’s mobility sector and broader economy.

Global capability centre industry to become catalyst for creating jobs: report

Economic Times

Economic Times · 1y ago

Global capability centre industry to become catalyst for creating jobs: report

According to a report by HR Services and Workforce Solutions provider Genius Consultants, 78% of professionals expect India's global capability centres (GCCs) to create new job opportunities, particularly benefiting gig workers and temporary workforce. The report highlights the pivotal role of GCCs in advancing cutting-edge technologies such as AI and cloud computing. Additionally, 94% of respondents believe that GCCs will have a positive impact on India's overall economic output. The establishment of GCCs by multinational corporations is expected to increase job availability and opportunities for local professionals, contributing to the growth of India's industrial landscape.

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