Sustaining India's Gig Economy in Industry 4.0
This chapter of the book seeks to review the different components of the gig economy along with the advantages and disadvantages and how gig can contribute towards a localised and self-reliant Indian economy.
Abstract
Today's corporate landscape is undergoing a transformation process, and India is not untouched by these phases of transition as humans are replaced by computers and brick-and-mortar firms are substituted by e-commerce companies. In the midst of these shifts, issues such as labour dynamics have changed dramatically. One such consequence is the Gig Economy. With the gradual improvement in the labour market and the focus of government on localisation, it remains important to analyse the widespread influence of growing gig culture in making India a self-reliant economy. This chapter of the book therefore seeks to review the different components of the gig economy along with the advantages and disadvantages and how gig can contribute towards a localised and self-reliant Indian economy. The chapter also evaluates the regulatory framework of the gig economy in India. The chapter also proposes a conceptual model incorporating various pillars that could serve as an analytical framework for the rapidly increasing number of concepts and policy proposals.