India emerges as fifth largest market for flexi-staffing: ISF
Highlights
- The Indian flexi-staffing is set to grow at 22.7% CAGR in three years and around 6.1 million people are expected to be in flexi workforce by 2021
- The Indian Flexi workforce stood at 3.3 million in 2018-an increase of 1.2 million since 2015
(Representative image) NEW DELHI: India has emerged as the the fifth largest country in flexi-staffing globally, said Indian Staffing Federation (ISF), the apex body of India’s flexi staffing industry.
The Indian flexi-staffing is set to grow at 22.7% CAGR in three years and around 6.1 million people are expected to be in flexi workforce by 2021.
The Indian Flexi workforce stood at 3.3 million in 2018-an increase of 1.2 million since 2015. Logistics, BFSI, IT/ITeS, retail and government will account for 55% of the flexi workforce in 2021.
“With one million youth added to the workforce every month, India’s position and performance in the labour area is of both significance and immense interest to the world. 2015-2018 have also seen some of the most significant reforms and policy shifts in the space that seen accelerated transition from informal to formal employment in the same period,” said Rituparna Chakraborty, president, ISF.
The report by ISF points out that government’s current agenda of job creation can be achieved by boosting the aggregate effective demand in the economy through formalisation, industrialisation, urbanisation, financialisation and skilling.
The Indian flexi-staffing is set to grow at 22.7% CAGR in three years and around 6.1 million people are expected to be in flexi workforce by 2021.
The Indian Flexi workforce stood at 3.3 million in 2018-an increase of 1.2 million since 2015. Logistics, BFSI, IT/ITeS, retail and government will account for 55% of the flexi workforce in 2021.
“With one million youth added to the workforce every month, India’s position and performance in the labour area is of both significance and immense interest to the world. 2015-2018 have also seen some of the most significant reforms and policy shifts in the space that seen accelerated transition from informal to formal employment in the same period,” said Rituparna Chakraborty, president, ISF.
The report by ISF points out that government’s current agenda of job creation can be achieved by boosting the aggregate effective demand in the economy through formalisation, industrialisation, urbanisation, financialisation and skilling.
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