Gig Economy Goldmine: India's Balancing Act Between Opportunity and Oversight

In a historic milestone for India's gig economy, experts are advocating for well-balanced regulation that maintains the sector's growth pace while protecting workers. The platform economy has become a primary source of flexible jobs for millions of individuals, offering competitive salaries and the potential to build skills. But recent regulatory proposals in certain states have generated fears of over-regulation, which could discourage investment and constrain job growth. Industry stakeholders are stressing the necessity of a tripartite process involving the government, platforms, and workers' representatives to formulate a framework that ensures fair treatment and benefits to gig workers without discouraging innovation. As India goes ahead with its economic development, developing the gig economy could be a principal driver of sustainable and inclusive growth. Source: The Economic Times