Diwali and gig economy : As per a Teamlease EdTech survey, the 2024 festive season has most likely created jobs for 1 million gig workers and 250,000 contractual workers.
Subrata Sau, 45, a resident of South 24 Parganas waits eagerly for this period of the year. Diwali is very special to him. Not only because like others he enjoys this prime Indian festival, but he generates an additional source of income as a gig worker during this period and this gave a boost to his annual income.
Sau works as a waiter in a restaurant in Kolkata. However, every year he along with his family makes ‘diyas’ to sell before Diwali. “We make a good amount of money every year by selling these ‘diyas’ and other fancy candles we make at home. Thus, we wait for this time of the year as it contributes significantly to our family income,” added Sau.
This is not only Sau but also the story of lakhs of gig workers in India who wait eagerly for the festive season as they generate a good amount of income during this period.
During the festive season, like Diwali, there is a surge in demand across various sectors, leading to increased hiring, especially in the gig economy. As per a report by The Economic Times, citing NLB Services, around one million jobs get created during the festive season in India. Industries like retail, hospitality, e-commerce, logistics, and BFSI are set to ramp up hiring, with e-commerce anticipating a 22 per cent increase compared to last year, according to NLB Services CEO Sachin Alug.
While on the one hand, cottage industries like manufacturing diyas, puja items, and small-scale garments get a boost, on the other hand, the hiring surge by the e-commerce sector provides massive employment for several gig workers.
According to the Confederation of All India Traders (CAIT), Diwali generated Rs 3.75 lakh crore in economic activity in 2023.As per the prediction of CAIT, this number is supposed to increase to Rs 4.25 lakh crore this festive season.
“Retail businesses bring on additional staff for in-store sales and inventory management, while hospitality hires to support festive gatherings and events. The warehouse and supply chain sectors also see heightened activity to handle the increased volume of goods moving through the supply chain,” said Shantanu Rooj, Founder and CEO, of TeamLease Edtech, a platform keeping track of India’s employment generation.
As per a Teamlease EdTech survey, the 2024 festive season has most likely created jobs for 1 million gig workers and 250,000 contractual workers. According to an Indeed report, hiring is expected to jump by 20% this season compared to the previous year, with a notable rise in job opportunities across Tier-2 and Tier-3 cities.
During the festive season, both the service and the manufacturing sector contribute significantly to the economic growth. While there is a remarkable surge in the service sectors for the roles in delivery, customer support etc, the manufacturing sector gets a boost in the tier 2 and tier 3 cities.
“Sectors like e-commerce, logistics, delivery services, and retail experiencing the highest demand. This includes roles in delivery, warehousing, and customer support, which expand to handle the surge in consumer purchases both online and in-store,” added Shantanu Rooj. While manufacturing sectors, particularly small businesses producing items like diyas, lights, and crackers, also benefit, they depend heavily on gig workers in logistics and distribution to bring these goods to market. As highlighted by Rooj, tier-2 and tier-3 cities see notable growth, as gig roles in these areas support local manufacturers by facilitating the distribution and sale of festive goods, connecting small-scale production with a wider consumer base.
As per the official data shared by Amazon India, more than 70 per cent of participating sellers for the Amazon sale are from tier 2 and below cities. Amazon also witnessed the highest-ever number of sellers from tier 2 and tier 3 cities receiving a sale as compared to the previous year.