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India had 15 million independent workers or freelancers in 2020, with industries like IT, finance, HR and design hiring people on a project basis. [1] 70 percent of freelancers from India reported working exclusively as freelancers, with 48 percent of them dedicating 30 hours or less per week to their work. [2] In a report of (National Institution for Transforming India) NITI Aayog has estimated that India’s gig workforce or Freelancing will grow to 2.35 crore by 2029-30. In 2020-21, it was at 77 lakh. Of this 26.6 lakh gig workers were from sales and retail trade. [3] [4]
India’s young workforce is inclining toward freelance and contractual opportunities. Possessing one of the world’s highest youngest working populations, India has the potential to become the world’s largest freelance gig economy. [5]
There was little effort from India's government towards assisting freelancers until in 2015 when it started the Digital India Platform (DIP), an initiative to digitize all government documents and where freelancers are hired to perform the tasks. Anyone with computer knowledge, Internet access, and a valid Aadhar card would be eligible to apply for this freelance opportunity. [6] More than 68% of freelancers depend upon social media to find suitable work opportunities [7]
Considering that the PM Modi’s Government has encouraged entrepreneurship by launching multiple programs, such as Skill India and Startup India, it should now lend a helping hand and support the freelancer's community. [8]
Numerous highly educated women, holding masters and doctorate degrees in India who cannot pursue a regular occupation due to family and social obligations. [9] Rather than cutting short their professional careers, these women often turn to freelancing.
Although freelancing offers a flexible career option, the number of Indian women in freelancing remains comparatively smaller than their male counterparts. In a survey conducted by Payoneer, a payments services provider based in New York in 2015, only 22 percent of Indian freelancers are women. [10] Not only this but the same report reveals that women are paid lesser than the men who freelance. While a male freelancer earns $19 per hour on an average, a female freelancer apparently earns $17 per hour for the same project. [11]
The distinct shifts in technology, culture, demographics, and professional needs and goals have driven companies to reassess their human resource policies to accommodate the burgeoning freelance economy. [9] India has seen a significant increase in the freelance community, with a 46% rise in new freelancers from Q1 to Q2 in 2020, as reported by Times of India in 2022. [12] These companies hire freelancers and independent consultants across various levels of management, including positions such as freelance CFOs who contribute to streamlining a company’s finances. According to industry estimates, hiring the services of an outsourced CFO can result in operational savings of 30 to 70 percent. Depending upon the nature of the job, fees can range from Rs. 30,000 to a few lakhs per month. [13]
Temporary work or temporary employment refers to an employment situation where the working arrangement is limited to a certain period of time based on the needs of the employing organization. Temporary employees are sometimes called "contractual", "seasonal", "interim", "casual staff", "outsourcing", "freelance"; or the words may be shortened to "temps". In some instances, temporary, highly skilled professionals refer to themselves as consultants. Increasingly, executive-level positions are also filled with interim executives or fractional executives.
Freelance, freelancer, or freelance worker, are terms commonly used for a person who is self-employed and not necessarily committed to a particular employer long-term. Freelance workers are sometimes represented by a company or a temporary agency that resells freelance labor to clients; others work independently or use professional associations or websites to get work.
Aditya Birla Group is an Indian multinational conglomerate, headquartered in Mumbai. The group's business interests include metals, cement, fashion and retail, financial services, renewables, fibre, textiles, chemicals, real estate, trading, mining, and entertainment. The group has a presence in 36 nations and a combined annual revenue of US$62 billion, over 50% of which is derived from its overseas operations.
Sara Horowitz is a founder of the Freelancers Union and a proponent of mutualism. She has been working for unions since age 18, when she held a summer internship at the International Ladies Garment Workers Union. She has worked for the UAW, CSEA, and SEIU, and she currently serves on the board of the Albert Shanker Institute. Under her direction, the Freelancers Union built a first-of-its-kind Portable Benefits Network in 2004 and launched the Freelancers Insurance Company in 2009, which provided health insurance to more than 25,000 New York freelancers before it was closed in 2014. In her work, Horowitz advocates for the role of mutualist organizations, including unions, cooperatives, mutual aid groups, and faith-based groups, as the foundation for the next labor economy and social safety net in the United States.
Bharti Enterprises is an Indian multinational conglomerate, headquartered in Delhi, India. It was founded in 1976 by Sunil Bharti Mittal. Bharti Enterprises owns businesses spanning across telecommunications, manufacturing, insurance, real estate, hospitality, and food. The group's flagship company, Bharti Airtel, is a telecom service provider with operations in more than 18 countries across Asia, Africa and Europe. The company ranks amongst the top two mobile network operators globally by number of subscribers.
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JSW Steel Limited is an Indian multinational steel producer based in Mumbai and is a flagship company of the JSW Group. After the merger of Bhushan Power & Steel, Ispat Steel and Jindal Vijayanagar Steel Limited, JSW Steel became India's second largest private sector steel company.
ReNew Energy Global plc is a decarbonisation solutions company based in India. It is the first Indian renewable energy company to be listed on NASDAQ. ReNew operates more than 140 projects spread across nine states in India. The company provides decarbonisation solutions through a mix of green hydrogen, data-driven solutions, storage, manufacturing, and carbon markets.
Project 77 is a of the Indian Navy acquisition programme to procure nuclear-powered attack submarines. The Government of India, through the Cabinet Committee on Security (CCS), approved the construction of six of these submarines in February 2015. These will be designed by the Navy's in-house Directorate of Naval Design and built in India at the Ship Building Centre at Visakhapatnam. The construction was expected to commence on 2023-24 while the first submarine is expected to enter service in 2032. However, further and final clearance for initially acquiring 2 nuclear submarines, under the Project 77, was approved by CCS on 10 October 2024.
Gig workers are independent contractors, online platform workers, contract firm workers, on-call workers, and temporary workers. Gig workers enter into formal agreements with on-demand companies to provide services to the company's clients.
Vili Lehdonvirta is Professor of Economic Sociology and Digital Social Research at the Oxford Internet Institute, University of Oxford. He is also a senior research fellow of Jesus College, Oxford, an associate member of the Department of Sociology, Oxford and a former Fellow of the Alan Turing Institute, London. Lehdonvirta is an economic sociologist, whose research draws on theories and approaches from economic sociology, new institutional economics, and political science. His research examines the socio-economic and political implications of new digital technologies.
Muthoot Microfin Limited is an Indian microfinance institution (MFI), headquartered in Kochi. It primarily provides unsecured microloans to women in rural areas. It is a part of Muthoot Pappachan Group.
The 2023 Union Budget of India was presented by the Minister of Finance of India on February 1, 2023. This was the fourth budget of Narendra Modi-led NDA government's second term, starting from 2020. The Economic Survey for 2022–2023 was released on January 31, 2023 before the budget.
The chief ministership of N. Chandrababu Naidu began on 1 September 1995 and ended on 11 October 1999, making him the 13th Chief Minister of Andhra Pradesh. Naidu was sworn in by the then governor, Krishan Kant. Naidu's second term started on 11 October 1999 to end on 13 May 2004, sworn in by the then governor, C. Rangarajan. After a decade, Naidu's third term commenced on 8 June 2014 and ended on 29 May 2019, during which he served as the chief minister of the bifurcated Andhra Pradesh, sworn in by the then governor, E. S. L. Narasimhan. He is currently serving as the chief minister, sworn in by the current governor, Syed Abdul Nazeer on 12 June 2024.
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TeamLease Services Limited is an Indian recruitment and human resources services company established in 2000 with its headquarters in Bengaluru, Karnataka. The company operates nine offices across India, with locations in Bangalore, Mumbai, Pune, Delhi, Ahmedabad, Kolkata, Hyderabad, Chennai, and Bhubaneshwar. It is publicly traded on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
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