Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
Technology evolution forces private players to downsize operations.
'You will see more and more people working independently -- starting beauty parlours, driving cars, etc.' This is what we call the gig economy.' 'The same people who have been laid off in India or are unable to get visas to work in the US may be part of this gig economy.' 'India needs billions of jobs, and it can only be created by self-employment or the gig economy.'
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