The freelance economy in India has witnessed extraordinary growth, transforming from a niche working arrangement into a mainstream career choice. With more than 15 million active freelancers and an industry projected to reach $50 billion by 2032, the sector represents a significant shift in how Indians approach work. In specialized fields like finance, Indian freelancers are commanding impressive rates of up to $71 per hour, well above the global average of $41. This surge reflects the increasing global recognition of Indian talent, coupled with the cultural and technological shift that has made cross-border collaboration seamless.
Global freelancing platforms like Upwork, Fiverr, Toptal and several others have played a major role in democratizing access to work, making it easier than ever for freelancers to connect with global clients. Most platforms operate on a commission-based model, charging between 10% and 20% on earnings. However, apart from the service fees/commission, freelancers also face a multitude of additional charges, including transaction costs, currency conversion fees, and various platform-specific charges that can substantially reduce their actual income.
This story is from the December 23, 2024 edition of Mint Kolkata.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 23, 2024 edition of Mint Kolkata.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
How Bhansali Elevates The First Encounter
An excerpt from a new book on the Hindi director considers the importance of first sightings in Sanjay Leela Bhansali's cinema
The Treasures of Nimrud Pieced Together Again
Archaeologists Have Been Reassembling Bas-Reliefs, Sculptures and Decorated Slabs
From arrack to wine, a bar crawl across Sri Lanka
Cocktail bars in the island nation are drawing on local traditions and flavours to give a heady twist to familiar spirits
Only human-centred AI can charm humans to adopt it
The AI industry could learn from carmakers how to focus on the consumer and modify perceptions
How emerging economies could prosper in a protectionist world
As manufacturing export success gets harder, they should focus on service exports. These are unlikely to face big trade barriers
The Asian Dream Is Waking Up To Realities Of Middle-Class Life
Asians are realizing that staying middle-class is not guaranteed
Fix India's bond market to lift economic growth
As India's economy slows, we should revive public-private partnerships to attract private investment. But, for debt funding, we'll need to reform and invigorate our market for bonds
Lessons from the 75-year-old National Sample Survey
Its impressive history tells us much about innovation, autonomy and state-level data collection
We should let clarity prevail over nonsense: Here's a handy guide
We must use simple language, empathize with people, not take ourselves too seriously and be kind
Clear Goals and Discipline: How Small Investors Can Build Lasting Wealth
There is no one-size-fits-all, the answer will depend on your needs, personal preferences
