Published Paper Details:

The opportunities and difficulties associated with the gig economy's rapid expansion are examined in this study. The gig economy is a mode of employment where individuals work for themselves or on a contract basis, getting paid for each task they do.Freelancer.com, a global marketplace for crowdsourcing and freelancing, claims that India is among the top nations in the world with a growing gig economy culture. India is seeing the following major trends in the gig economy: The number of retirees working gigs is increasing, blockchain-based payment systems are becoming more prevalent, blockchain-based marketplaces are emerging, technology is taking over the employment process, and more contract workers are being hired by well-established businesses. The gig economy helps the economy in several ways, including reducing unemployment, increasing labour force participation, boosting demand, and increasing productivity. Increased service availability and better matching that better meets their demands could be advantageous to both consumers and enterprises. It also presents numerous difficulties: It lowers salaries. Working lives become episodic as a result. It shifts the risk to regular people, which leads to increased stress and mental illness. Pensions, sick pay, holiday benefits, and parental leave are not provided by gig work. Lending to persons with unstable employment makes mortgage providers cautious. The recommendations for businesses, individuals, and the government to help them take advantage of the gig economy are also included in the report.