Ola CEO Bhavish Aggarwal Advocates Social Security for Gig Workers, Calls India a Potential Trendsetter

Ola CEO Bhavish Aggarwal emphasizes the need for social security for gig workers and suggests that India could lead in facilitating their work conditions. Highlighting India’s unique potential compared to the corporatized US, he calls for collaborative innovation between companies and governments.

Ola CEO Bhavish Aggarwal has highlighted the importance of contributing to the social security net for gig workers, positioning India as a potential trendsetter in this sphere.

In an interview with ANI, Aggarwal stressed the need for innovation within the ecosystem formed by companies and central and state governments to offer gig workers social security and insurance. He said, 'India can actually be the trendsetter in this.'

Gig workers, who are independent contractors or freelancers, represent a growing workforce in India. Aggarwal pointed out that India's less corporatised nature could allow it to better address societal needs. Ola is already in discussions with government bodies to improve conditions for gig workers.

Aggarwal also emphasized the importance of directing technological savings towards gig workers to make the gig economy more attractive. Reflecting the growing government interest, NITI Aayog released a report detailing the expanding gig economy. According to the report, there were 7.7 million gig workers in India in 2020-21, a figure expected to grow to 23.5 million by 2029-30.

By the end of this period, gig workers are forecasted to account for 4.1% of India's overall income and 6.7% of the country's non-agricultural workforce, suggesting a significant economic impact.

(With inputs from agencies.)