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India Economy

India’s Gig Workforce Expected to Reach Up to 2.1 Crore by 2030, Says Report

/ Human Resource Community

India’s internet-enabled gig workforce is poised for significant expansion, with the number of monthly active workers projected to rise from nearly 60 lakh today to between 1.7 crore and 2.1 crore by 2030, according to a new report by Redseer Strategy Consultants. The report estimates the sector will grow at a compound annual growth rate (CAGR) of 24–29%, making it a major contributor to employment generation. By the end of the decade, gig platforms could account for nearly 70% of India’s estimated annual non-farm job creation requirement of around 80 lakh jobs. Among various gig segments, ride-hailing is expected to employ the largest workforce, with 1.2–1.4 crore workers by 2030. This will be followed by delivery services, projected to engage 50–70 lakh workers, while the home services segment is likely to employ around 20–30 lakh workers. The report also highlights the sector’s role in expanding employment opportunities, noting that more than 30% of future gig workers are expected to be first-time entrants into the workforce. Additionally, 54% of current gig workers surveyed said they were not engaged in paid employment before joining gig platforms. Based on a survey of 2,250 gig workers, the study found that full-time gig workers earn significantly more than comparable workers in traditional formal and informal jobs. On average, gig workers earn ₹138 per hour, compared to ₹54 per hour in similar conventional roles. Income levels vary across sectors. Workers in home services earn an estimated ₹70,000–₹80,000 per month, while ride-hailing drivers earn around ₹37,000–₹39,000, and delivery personnel receive ₹22,000–₹23,000 in monthly net earnings. Commenting on the findings, Anil Kumar, Founder and CEO of Redseer Strategy Consultants, said that internet-based gig platforms have become an essential pillar of India’s workforce by providing flexible and scalable earning opportunities for both formal and informal workers. The report further revealed that nearly 70% of gig workers believe their platform experience has improved their future employment prospects by helping them develop skills such as customer service, navigation, and financial management. Source: IANS

India’s Gig Workforce Expected to Reach Up to 2.1 Crore by 2030, Says Report Read More »

India-Japan Partnership Enters New Era as PM Modi Highlights Strong Economic Ties, AI & Defence Cooperation

/ Governance Community

Prime Minister Narendra Modi reaffirmed the strength of India-Japan relations, describing the bilateral partnership as “truly special” while emphasizing its growing impact on the global economy. Speaking at the India-Japan Joint Economic Forum held in New Delhi, PM Modi highlighted that the collaboration between Japan’s technological expertise and investment capabilities, combined with India’s rapid growth and large-scale opportunities, creates significant benefits for the world economy. He noted that both nations have agreed to deepen cooperation across several strategic sectors, including artificial intelligence, economic security, defence, and healthcare, paving the way for a future-ready partnership. Addressing global economic challenges such as supply chain disruptions, trade uncertainties, and slowing international demand, PM Modi underscored India’s position as the world’s fastest-growing major economy, recording a GDP growth of 7.7 percent in the previous financial year. The Prime Minister further stated that over the last twelve years, India has adopted the philosophy of Kaizen to transform its economic framework, alongside implementing next-generation reforms in taxation, governance, and ease of doing business. He added that the government continues to open new sectors for private participation while introducing incentives aimed at accelerating economic growth, reinforcing India’s position as a highly attractive destination for Japanese investments. Surveys conducted by Japan Bank for International Cooperation have consistently ranked India as the most promising destination for Japanese businesses for four consecutive years. Japanese Prime Minister Sanae Takaichi, in her address, highlighted energy security as a crucial pillar of India-Japan cooperation. She referenced the recent G7 Summit, where Japan proposed measures to strengthen global energy security through transparent energy trade, strategic stockpiling, and stronger collaboration between energy-producing and consuming nations. She also emphasized Japan’s commitment to implementing these goals through its Power Asia Initiative. On the occasion, both leaders jointly inaugurated the fourth vehicle manufacturing facility of Maruti Suzuki at Kharkhoda, Haryana, marking another milestone in industrial collaboration between India and Japan. Source: News on AIR

India-Japan Partnership Enters New Era as PM Modi Highlights Strong Economic Ties, AI & Defence Cooperation Read More »

EPF Interest Rate Retained at 8.25% for FY26; UPI-Based Withdrawals to Roll Out Soon

/ Governance Community

The central government has officially approved an 8.25% interest rate on Employees’ Provident Fund (EPF) deposits for the financial year 2025-26, keeping the rate unchanged for the third consecutive year. As per government officials, the interest amount is expected to be credited to more than 70 million contributing subscribers by the end of this month. The decision comes after approval by the Central Board of Trustees (CBT), the apex decision-making body of the Employees’ Provident Fund Organisation, with final clearance now granted by the finance ministry. In a significant push towards digital convenience, the government has also approved UPI-based withdrawals under the upcoming EPFO 3.0 platform. This new feature will allow EPF subscribers to access their provident fund savings directly through UPI apps and ATMs, making the withdrawal process quicker and reducing dependency on paperwork. The labour ministry is expected to officially notify these reforms by the end of the month, paving the way for a more streamlined and digitally enabled EPF ecosystem for millions of workers across India. Source: Economic Times

EPF Interest Rate Retained at 8.25% for FY26; UPI-Based Withdrawals to Roll Out Soon Read More »

Government Raises Gold, Silver Import Duty to 15% to Control Imports and Support Rupee

/ Governance Community

In a significant policy move, the Indian government has increased import duties on gold and silver to 15% from the earlier 6%, aiming to reduce precious metal imports and ease pressure on the country’s foreign exchange reserves. The decision comes amid growing concerns over India’s rising trade deficit and weakening rupee, as heavy bullion imports have added strain to external finances. Analysts believe the higher tariffs could discourage fresh demand in one of the world’s largest gold-consuming markets. The announcement follows Prime Minister Narendra Modi’s recent appeal urging citizens to postpone non-essential gold purchases for a year in the national interest. He had cited global economic uncertainty and tensions in the Middle East as reasons to conserve foreign exchange reserves. According to trade estimates, India’s gold imports have surged sharply in recent years, with increasing shipments from the UAE. Policy experts have also called for a review of tariff concessions under the India-UAE trade agreement, which they say contributed to higher imports. Union Minister Ashwini Vaishnaw also supported the move, stressing the need to reduce import-driven spending as geopolitical instability continues to impact global markets and energy routes through the Strait of Hormuz. The tariff hike has triggered mixed reactions. While some see it as a necessary step to protect the rupee and improve the trade balance, others fear it may encourage smuggling, disrupt wedding-season buying, and increase costs for consumers. Source: TOI  

Government Raises Gold, Silver Import Duty to 15% to Control Imports and Support Rupee Read More »

PM Modi Revives Covid-Era Work Culture Habits, Urges Indians to Prefer WFH and Virtual Meetings Amid Global Uncertainty

/ Governance Community

Prime Minister Narendra Modi has urged citizens to adopt certain work and travel habits that were common during the Covid-19 pandemic, including work-from-home arrangements, virtual meetings, and online conferences, as India prepares for possible economic pressure caused by rising global tensions in West Asia. Addressing a gathering in Secunderabad after launching development projects worth around ₹9,400 crore in Telangana, PM Modi said the country must focus on reducing unnecessary fuel consumption and lowering dependence on imported energy resources. Highlighting the importance of energy conservation, the Prime Minister advised offices and organisations to once again encourage remote working wherever possible. He said online meetings and digital conferences can help cut daily commuting, lower petrol and diesel usage, and ease pressure on fuel demand, especially in major cities. Unlike the pandemic years, Modi clarified that the appeal is not linked to any health emergency, but rather to economic preparedness during a period of international instability impacting fuel prices, supply chains, and global markets. He also encouraged citizens to make greater use of public transport such as metro rail services, and suggested carpooling when private vehicles are necessary. Beyond workplace habits, PM Modi called on people to limit non-essential foreign travel, postpone overseas vacations and destination weddings for the next year, and reduce unnecessary gold purchases to help conserve foreign exchange reserves. The Prime Minister said responsible consumption is essential at a time when the world is facing challenges related to energy security. He added that India is continuing to invest in alternative energy solutions such as solar power, ethanol blending, CNG mobility systems, and piped gas networks. During the same visit, Modi inaugurated and laid the foundation stone for multiple infrastructure projects in Telangana, including highways, railways, petroleum facilities, industrial developments, and the PM MITRA textile park in Warangal.

PM Modi Revives Covid-Era Work Culture Habits, Urges Indians to Prefer WFH and Virtual Meetings Amid Global Uncertainty Read More »

Median CEO Pay in India Rises to ₹10.5 Crore in FY26, Growth Slows Amid Market Volatility

/ Human Resource Community

The median compensation for professional, non-promoter CEOs in India increased by 5% year-on-year to ₹10.5 crore in FY 2025–26, according to a report by Deloitte. However, this marks the slowest pace of growth since the COVID-19 period, reflecting changing compensation structures and broader economic uncertainties. The report highlights a shift in executive pay design, with greater emphasis on incentives, stock-linked compensation, and emerging leadership roles such as Chief Digital Officers. Experts note that subdued equity market performance over the past 12–18 months and rising geopolitical risks have contributed to more cautious salary increments. Among top executives, Chief Financial Officers (CFOs) saw the highest rise in compensation. This trend is driven by increased demand for financial expertise, a strong focus on capital efficiency, and direct accountability to shareholders. Notably, around 15% of companies in the NIFTY 50 witnessed changes in CFO positions, indicating significant churn and high demand for experienced talent. The study also points to a transformation in remuneration strategies. Companies are moving away from a uniform approach and adopting multiple long-term incentive plans tailored to different employee groups. While larger firms, especially those in the NIFTY50, are implementing complex multi-year Performance Share Plans, smaller organisations continue to rely on traditional stock options or ESOPs. Additionally, firms are increasingly linking executive rewards to internal performance metrics rather than stock price movements alone, aiming for sustainable value creation. Strengthened governance practices, clearer executive contracts, and improved transparency in compensation decisions are further shaping the evolving CXO pay landscape. The findings are based on the seventh edition of the Deloitte India Executive Performance and Rewards Survey, released in September 2025, which covered insights from over 350 organisations across the country. Source: PTI

Median CEO Pay in India Rises to ₹10.5 Crore in FY26, Growth Slows Amid Market Volatility Read More »

India Needs Unified Policy Push to Build USD 100 Billion Creative Economy by 2030: CII

/ Media Entertainment & Art Community

India must adopt a cohesive, well-coordinated policy framework to transform its creative sector into a USD 100 billion economic powerhouse by 2030, according to the CII’s India’s M&E Sector Report, unveiled at the 12th CII Big Picture Summit 2025 in Mumbai. The report projects that such a unified policy push could significantly boost the Media & Entertainment (M&E) industry’s GDP contribution while creating over five million new jobs. While the global M&E industry is expected to touch USD 3.5 trillion by 2029 with a 3.7% CAGR, India’s sector is poised for much stronger expansion at 9.8% CAGR, nearly 2.6 times the global rate. However, India still accounts for only 2% of the global media market, and its creative economy contributes merely 1% to the country’s GDP. To unlock full growth potential, the report calls for structural reforms, beginning with unified, modern regulation to replace the current fragmented, medium-specific laws that lead to inconsistent standards and compliance complexity. Such harmonisation, CII says, would support innovation, strengthen IP protection, and help India lead in fast-rising segments like gaming, streaming, and digital media. The report identifies infrastructure gaps as a major barrier to growth. Limited film studios, production facilities, and advanced tech infrastructure have led to capital flight and lost employment opportunities. CII recommends greater investment in top-tier production hubs, widespread 5G rollout, and technology integration to improve content creation and accessibility across India. Entrepreneurship challenges also need attention. The report advocates for a single-window digital clearance system, stronger anti-piracy enforcement, and simplified processes to improve business ease and attract global investments. Despite India’s rising global visibility in storytelling, the country’s media exports remain relatively low. CII suggests establishing dedicated export funds and streamlined export mechanisms to help Indian creators scale internationally and boost cultural impact. Talent shortages—particularly in animation, VFX, and digital media—pose another significant obstacle. The report recommends internationally aligned training standards and deeper collaboration between industry and academia to build a future-ready workforce. It concludes that a comprehensive National Media & Entertainment Policy, modeled on the National AVGC-XR Policy, could offer much-needed clarity and direction to navigate the industry’s rapid technological transformation. Source: ANI

India Needs Unified Policy Push to Build USD 100 Billion Creative Economy by 2030: CII Read More »

Foreign Investment in India’s I&B Sector Slows Sharply in June Quarter Despite Strong Overall FDI Momentum

/ Media Entertainment & Art Community
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Foreign direct investment (FDI) inflows into India’s Information and Broadcasting (I&B) sector recorded a significant slowdown during the April–June 2025 quarter, even as the country’s broader FDI landscape remained steady. According to the latest data from the Department for Promotion of Industry and Internal Trade (DPIIT), cumulative FDI in the I&B sector stood at ₹76,143.29 crore by the end of June 2025 — up marginally from ₹75,590.84 crore in March 2025 and ₹74,369.17 crore in December 2024. This translates to just ₹552.45 crore in fresh FDI inflows during the first quarter of FY26, marking a steep 54.8% drop compared to ₹1,221.67 crore in the previous quarter. The figures, compiled from April 2000 onwards, indicate that investor sentiment in the I&B industry has cooled off after a relatively strong start to the year. While cyclical adjustments may partly explain the decline, analysts point out that the sector’s overall contribution to India’s total FDI remains small. High-growth areas such as Telecommunications, Automobiles, and Computer Software & Hardware continue to dominate, collectively accounting for over 25% of cumulative inflows. In contrast, the entire I&B segment—including print, broadcasting, and online media—makes up less than 1% of total FDI received since 2000. Despite the slowdown in the media sector, India’s overall FDI performance continues to demonstrate resilience. Cumulative inflows between April 2000 and June 2025 have surpassed ₹92 lakh crore. During the April–June 2025 quarter alone, total FDI (including equity, reinvested earnings, and other capital) amounted to ₹2,22,120 crore, with equity inflows contributing ₹1,59,428 crore. Experts suggest the current dip in I&B investments reflects a mix of regulatory uncertainties, industry consolidation, and fewer big-ticket deals. However, growing interest in digital media, OTT platforms, and sports broadcasting could spur renewed investor confidence later in the year—particularly as policymakers revisit FDI rules to align with the rapidly evolving digital ecosystem. With India’s media and entertainment sector undergoing rapid digital transformation, stakeholders are optimistic that upcoming reforms could help unlock new opportunities and make the I&B landscape more attractive to global investors. Source: Economic Times

Foreign Investment in India’s I&B Sector Slows Sharply in June Quarter Despite Strong Overall FDI Momentum Read More »

FM Nirmala Sitharaman Launches Nationwide Drive to Return ₹1.84 Lakh Crore in Unclaimed Assets

/ Governance Community
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Finance Minister Nirmala Sitharaman on Saturday unveiled a major national campaign aimed at returning nearly ₹1.84 lakh crore worth of unclaimed financial assets to their rightful owners. These funds are currently lying idle across banks, the Reserve Bank of India (RBI), insurance companies, mutual funds, provident fund accounts, and other financial institutions. The three-month-long initiative focuses on creating public awareness and simplifying the process for individuals and families to reclaim their lost or forgotten assets. “These unclaimed amounts are not the government’s property — they belong to citizens,” Sitharaman emphasized, noting that people have long demanded action to recover such funds from entities like the RBI or the Investor Education and Protection Fund (IEPF). Explaining the reasons behind unclaimed assets, she said they often result from missing documents, untracked policies, or lack of awareness, describing the situation as “a ripe fruit hanging within reach but not yet claimed by those it belongs to.” The campaign is structured around three core pillars — Awareness, Access, and Action. Awareness: Educating citizens about the existence of unclaimed money. Access: Enabling easier tracking through the RBI’s UDGAM portal. Action: Ensuring officials follow up on even the smallest clues to help people reclaim their assets. Reassuring the public, the Finance Minister said the funds remain safe and are merely held in custody by the government and financial institutions, not owned by them. “Whether with banks, SEBI, or any other body, the money is securely maintained,” she said. Unclaimed deposits are transferred to the RBI, while unclaimed shares and securities are moved to the IEPF. The government aims to use this drive to reconnect individuals with their financial assets and enhance public trust in the country’s financial ecosystem. Source: TNN

FM Nirmala Sitharaman Launches Nationwide Drive to Return ₹1.84 Lakh Crore in Unclaimed Assets Read More »

India’s Economy Holds Steady Despite Global Trade Pressures: SBI Capital Report

/ Governance Community
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India’s economy continues to demonstrate robust resilience amid global trade headwinds and fiscal strains, supported by strong domestic demand and government expenditure, according to a new report by SBI Capital Markets. The study highlighted that while protectionist tariff policies — particularly from the United States — have become a major global challenge, India managed to remain relatively shielded in the first quarter, achieving an impressive GDP growth of 7.8%. The report pointed to ongoing structural reforms as a key factor driving momentum. A streamlined Goods and Services Tax (GST) framework is expected to inject around ₹50,000 crore into the economy, further boosting consumption. However, Indian exporters are increasingly under strain due to retaliatory tariffs from trade partners, with some duties reaching 50%. Notably, a 25% levy linked to Russian crude purchases has heightened cost pressures and disrupted trade flows. On the currency front, despite a softer U.S. dollar, the Indian rupee depreciated nearly 5% year-on-year, hitting record lows. The Reserve Bank of India has limited its interventions, opting instead to allow the weaker currency to support exports while conserving forex reserves. Externally, while capital inflows remain tepid, the current account deficit is viewed as manageable despite sluggish merchandise exports. The analysis also contrasted India’s fiscal situation with that of advanced economies. Rising debt burdens in countries such as the U.S. and U.K. are steepening bond yield curves, while in India, higher state government borrowing continues to exert pressure on long-term yields. Adding to the global backdrop, weaker U.S. employment data has heightened expectations of an imminent Federal Reserve rate cut in its upcoming policy review, the report noted. Source: IANS Photo Credit: iStock  

India’s Economy Holds Steady Despite Global Trade Pressures: SBI Capital Report Read More »