Gig economy and its implications in the Indian context

Abstract

A gig economy can be beneficial to workers, consumers, and businesses by making work more adaptable, cost-effective and flexible based on the needs and demands of all stakeholders involved. On the flip side, it tends to erode the traditional economic relationship that has existed between workers, businesses, and consumers by undermining structures that existed for the protection of employees. Platforms bring service providers on board based on contracts. However, these contracts do not ensure job and income security, leaves, pensions or any form of insurance. The models which were designed for part-time employment have converted into something where people have taken these jobs as a full time one. While this has provided opportunities for the labor force to earn a living, it has reduced their negotiating power in the employer-employee relationship, to an extent to which it has become difficult to identify the real employer.