Atharva Joshi, Shri. Navalmal Firodia Law College
ABSTRACT
“Even though the Gig Economy is only at its infancy stage in India, it can certainly be affirmed that its expansion is ever-growing at a rapid rate. According to the estimations, many reports reiterate that there could be as many as 350 million gig jobs in India. The government is constantly ensuring that Gig Workers are entitled to protected workplace cultures.”
Gig Economy is a fast-paced economy constituting individuals who are performing respective delegated tasks, and in return are paid for the work done by them. In accordance with the multinational outsourcing “Freelancer.com”, wherein India is considered to be one of the leading countries comprising the freelancing economy and is prospering steadily. The retired demographic is increasingly participating in gig work, utilizing blockchain-based payment systems, and engaging with blockchain-based markets. The evolution of technology has captured the entire employment process and permanent positions are designated to the contractors at both; newly formed businesses and renowned business setups. The Gig Economy has been surrounded by appraisal as well as criticism. On one hand, this economy has aimed at reducing unemployment, encouraging participation of the workforce, increase in popularity and efficiency, addressing the demands which is advantageous for both; the customers as well as the businesses. On the other hand, this economy is also encircled by various shortcomings, which is inclusive of lack of steady earnings, the working week becomes quite episodic, the responsibility of ensuring safety is vested at the extent of the individuals which becomes a major concern for stress. Lastly, considering that Freelancing jobs are not inclusive of health benefits, paid leaves, holidays, or parental leave and thus, lacks job security.
This Research Article focuses upon the favourable and adverse effects of the rapidly growing Gig Economy in relation to their social security, alongside focusing upon the suggestions to improve their standing in the society and effectively capitalize on the entitlements that could be offered to them.
Keywords: Employment, Freelancing Jobs, Gig Economy, Technolog
