May 20, 2024
Screenshot 2023 05 25 040758

The Future of Work in India: Automation and Gig Economy

Introduction

India is one of the largest countries in the world both in terms of population and territory. In the last decades India has been developing its economy fast and already now it can compete with many large countries of the world. Many economists and politicians predict that by 2030 India could become the third or even the second biggest economy in the world. 

India’s GDP is growing robustly every year, but despite this there are still a few issues that are keeping the Indian economy from growing faster. These include the labour, land and tax laws that have not yet been changed. There is also the problem of outstanding debts of state-owned banks. 

But even so, India is growing very fast in all sectors. This article will tell you about the specifics of a future work in India, the pros and cons that await you.

Still, you don’t have to worry too much. No matter what the future holds, you can always start earning from sports betting by downloading the 1win betting app. Here, you can watch your favourite matches and bet on your beloved teams to win. 

The Issue of Automation

Work automation not only in India but also in other countries is happening at a great speed. It helps many companies to manage work processes more more effectively, reduce costs and increase work efficiency. 

Benefits of Automation

India is the place in the world that is developing automation systems quite actively. This approach attracts foreign investors and in turn contributes to the economy of the entire country.

It is the IT workers who are involved in the development to increase productivity. Robotic Process Automation (RPA) is more popular in India. It allows the automation of frequently repetitive tasks, which are usually related to data and information processing. This significantly reduces the time to complete tasks and lowers the risk of errors.

Artificial intelligence and machine learning are also developing rapidly in India. These are most commonly used in the financial, medical, telecom and other sectors.

The Downside

Many workers in various fields have been concerned for years about how fast automation is progressing. In recent years, many large companies around the world have laid off employees. After all, the work of robots costs them much less.

As for the IT market in India, the direction of development is the same as the rest of the world. However, there are certain specifics.

For example, automation of this kind of work is slower than Indians had feared. This can be explained by the fact that it is comparatively cheaper to pay IT specialists in India than to introduce artificial intelligence in the process. And it is still quite difficult to replace human intelligence with machine one in this field.

But the trend for automation in India exists, so it is only a matter of time before the number of workplaces goes down. Hopefully, it won’t happen fast because the government realises that massive unemployment will lead to trouble in the streets.

In order to worry less about the future and be able to make money even if you get laid off, you can use the betting site 1win. It is completely legal and safe because it is licensed by Curacao under number 8048/JAZ 2018-040. 

The Gig Economy in India

The Gig Economy is a work system where employees are invited to work on specific projects where they solve tasks given to them within a certain time frame. Working through platforms that connect the customer and the contractor also falls under this system. Examples that are well known include ordering taxis through Uber and renting flats on Airbnb.

Freelancing Statistics in India

According to unofficial data, the number of gig workers in India has increased greatly in recent years. The country is the fifth-largest in the world in the use of such flexible forms of employment. Already in 2018, there were around 3 million gig workers.

This type of employment is most actively used in the banking and financial industry, as well as in commerce. It is also often used by large corporations that hire freelancers for important projects and to test new products and services. Among the linking platforms, the most popular in India is Ola Taxi.

Job portals have seen a dramatic increase in the number of registered freelancers. According to some research data, 73% of them reported that they do not intend to return to full-time jobs. 

Important Differences in freelancing in India

As written above, India is the fifth largest country in the world in terms of gig workers. But, if for most countries these are highly skilled workers, in this country most of the work is low-skilled. Freelancers from the following fields are the most common:

  • Manufacturing;
  • Agriculture and forestry;
  • Fishing;
  • Retail;
  • Hospitality;
  • Public, social and personal services;
  • Construction.

In fact, the dominance of such labour in India is not particularly surprising. Informal low-skilled jobs were common here before the freelance exchanges came along. For Indians employed in such occupations, the development of the gig economy has been a big advantage. They can now choose from a large number of jobs and have more flexibility in their working day.

However, it’s not all that great; the problem is the necessity of fast internet for a number of popular freelance jobs. And this kind of internet is often unavailable to people living in villages and remote areas. But even with not the fastest internet, you can go to 1win and bet on your favourite team’s next match. This way, you can not only enjoy your game, but also win some money. 

Conclusion

For the people of India, work automation leads to both easier work, faster tasks and massive cuts in all areas. Of course for businesses it is a great option to save money and get a good quality product, but for workers it can be a disaster. And despite the increased availability of education, many Indians are worried about their future.

Freelancing, on the other hand, is more of a positive opening for Indian workers. And though many companies are not hiring long term employees, this is not a problem for most people, and for some it is even an advantage.

Right now, don’t expect a major change in the workplace in India. But it doesn’t stop you from expanding your income with betting or casinos at 1win.

Leave a Reply

Your email address will not be published. Required fields are marked *