India’s gig economy may add 90 million jobs, contribute 1.25% to GDP

The gig economy market is expected to grow at a compounded annual growth rate (CAGR) of 17 per cent to reach a gross volume of $455 billion by 2024, according to a white paper by the Forum for Progressive Gig Workers. Its contribution to India’s gross domestic product (GDP) is estimated to be substantial, with the potential to add 1.25 per cent to GDP by 2030, and create 90 million jobs in the long term. The gig economy supports sectors such as e-commerce, transportation, and delivery services, among others.