Professional Gig Economy In India to Grow to $20-30 bn by 2025 | CORPORATE ETHOS

Professional Gig Economy In India to Grow to $20-30 bn by 2025

By: | December 18, 2018
Gig-Economy

Dec 18: In tune with the growth of freelancers in management, IT and other core fuctions in industry, India’s gig economy has the potential to grow to $20-30 bn by 2025, according to Flexing It.

One in four freelancers globally are from India.Flexi-hiring by Indian IT Industry alone is expected to grow 53% in 2018 while access to internet has spiked 7000% in the past 15 years. Freelancing provide good opportunities for women to be part of the workforce. Globally 60% of the freelance community are women and it helps learn new skills and stay in touch with trends in their domains.Flexing It Survey 2017 revealed that two-thirds of global organisations will use 30% or more contingent/flexible talent to meet their resource needs.

Globally 60% of the freelance community are women and it helps learn new skills and stay in touch with trends in their domains. Organisations of the future will use traditional and flexible talent to meet their organisational goals.

More and more corporates are leveraging the power of freelancers with GE partnering with Upwork to leverage contingent talent while PwC, EY, Mercer have launched platforms to organise use of freelancers while LinkedIn has launched ‘ProFinder’ in the US to connect freelancers to clients. The regulatory and supporting eco system is also evolving with EU late payments directive to ensure freelancers get paid on time.

Business models aimed at freelancers are emerging – e.g.financial services, insurance, reputation management, education, accounting among others, according to Flexing It, a curative platform that connects organisations to consultants and expertise on an ‘on demand’ basis.