Gigabit economy can use more than 2 people crore by 2029-30
According to the NITI Aayog report, the country’s contract economy has the potential to employ 2.35 crore of workers by 2029-30, tripling and halving in 10 years.
According to a report released today, the contract economy employs around 68,000 people between 2019-20. The total number of employed people in India for the period 2019-20 is estimated at 51.10 crore. The report expects the number to rise to 56.96 crore by 2029-30.
Usually contract jobs are temporary and part-time and activities such as food delivery and taxi driving are owned by their own ride-hailing companies.
Currently, about 47% of contract workers are in medium-skill jobs, about 22% are in high-skill jobs, and about 31% are in low-skill jobs.
“But trends show that the concentration of medium-skilled workers is declining and the share of low- and high-skilled workers is increasing. It can be expected that while the dominance of medium skills will continue until 2030, gig work with other skills will emerge,” the report added.
It adds a warning that given the limited availability of employment data, estimates are “representative only and may not represent the true size of the contract workforce”.
