Annanya Sarthak, Co-Founder & CEO of Awign

As a player working with conglomerates and decacorns, listed and unlisted alike, we have seen the industry grow at 2-3x, and we see this growth continuing. The CII has already advised increasing budget allocation for skill development and job creation, and enterprises have started investing in gigification, allowing them to expand into Tier II and III markets.

We see this growth as good, because with formalisation comes regulation, with regulation comes growth, and with growth comes opportunity. As someone who speaks to enterprises and their gig employees on a daily basis, this can only bode well not just for gig, but the entire Indian economy.

As India’s largest player in the space, we feel the space will continue to grow at 2-3x, leading to labour regulations such as social security benefits. The CII has already advised increasing budget allocation for skill development and job creation, and enterprises have also started investing in gigification, which is also helping them footprint Tier-II & 3 markets.

Though the gig economy’s breakneck pace of growth has not as yet been classified as a formal economy, we hope this changes this fiscal year, given gigs are putting food on the table for close to lakhs of Indian populace, especially the white collar segment.

All in all, the gig economy will grow and how, this will lead to policies and regulation coming in, something that we and our enterprise partners welcome, as it formalises and democratises what has traditionally been viewed as just that – a gig.