Empowering India's Gig Economy: Social Security Schemes on the Horizon

The Ministry of Labour & Employment is developing a scheme to offer social security benefits to gig and platform workers. The initiative aims to formalize a growing workforce, estimated to reach 3 crore by 2030, providing benefits like pension and health services. The scheme is part of efforts to address labour needs in the fast-evolving gig economy.

The Ministry of Labour & Employment is spearheading a new initiative to extend social security benefits to gig and platform workers, a senior official announced at the CII Global Economic Policy Forum. This scheme aims to bring much-needed coverage to a rapidly expanding workforce that lacks traditional employer-employee relationships.

Speaking at the event, Union Labour Secretary Sumita Dawra highlighted the need to incorporate gig workers into the social security net as their numbers are projected to escalate beyond 3 crore by 2030. The Niti Aayog has reported a significant increase in gig workers, estimating over 2 crore currently active as the industry swiftly grows.

Union Labour Minister Mansukh Mandaviya confirmed the development of a policy ensuring benefits like pensions and health services for these workers. The move aligns with broader efforts to formalize India's labour force, creating a more competitive economy poised to absorb the technologies like AI while enhancing worker productivity.

(With inputs from agencies.)