Indian freelance industry is booming at a rapid pace. And the demand for Indian skilled professionals in the form of freelance advisors and consultants is ever-increasing. Not just the Indian start-ups, but the start-ups in abroad are equally interested in hiring Indian freelancers on contract basis to enhance their businesses. Around 50% of the start-ups abroad hire Indian freelancers directly or indirectly. This sector has a bright future in a country like India where there is no dearth of skilled professionals who are ready to give up their regular jobs and join the start-up industry on contract basis as part-time employees
The freelancing market is widening its circle across the globe and the online workforce is able to work for organizations of any nationality, sitting at the comforts of their own place in India. The freelancing work is mostly in the digitalized form which makes it easy for the clients and freelancers communicate with each other. India is home to the 2nd highest number of freelancers of the world with its data standing at 15 million, 1st being the US with around 53 million freelancers. These 15 million alone consume 40% of the freelance jobs offered worldwide. India is the prime producer of skilled professionals across the world with around `1.5 million students/professionals completing their graduation each year.
Income of Freelancers
The average hourly rate charged by Indian freelancers is about 19 Dollars per hour, which is 2 dollars less than the freelancers charging globally. As per the reports of the survey conducted by The Payoneer, the average hourly rate charged by freelancers worldwide is 21 dollars. The survey was conducted amongst 23,006 respondents, out of which 1,973 were Indians.
The average freelancing rate is 12 dollars per hour. The highest paying freelance service is that of legal service, which provides the freelancer 31 dollars for an hour. Also, the income satisfaction level of Indian freelancers is 36% as against the global average of 46%.The majority (85%) of the freelancers are in the age group 20s and 30s.
Online Freelancing Platforms
As per the report of Freelancer.com, there are about 38% Indians of all the global users on its site. Around 1.2 million of more than 3 million users on this platform are Indians. There is another globally recognized online job portal oDesk which brings together independent contractors in sync. with the projects being posted by various companies and organizations across the globe. Also, the number of freelancers has increased manifold during the past decade, as a result, the freelance market has grown tremendously. Hence, those finding it difficult to find a good job of their choice are diverting their skills to the freelance job market and earning big bucks.
Augmentation of Contract Hiring in India
Almost 50% of the freelance professionals in US work on contract basis as advisors/consultants with either 1 or more companies at the same time. Contract hiring in India is still at an embryonic stage yet the trend is catching up with more and more start-ups emerging annually. The start-ups are generally on the hunt for senior professionals who can be hired on part-time basis and are hence affordable.
Mushrooming network of Start-ups in India
The start-up culture is slowly and gradually boosting in our economic system with India being the 3rd largest in the start-up trend across the globe, trailing just behind US and the UK. The Indian government’s recent program under Startup India is a step further in this direction of boosting, augmenting and uncomplicating the business needs of the economy. Venture Capital firms and several Angel Investors across the globe are interested in shaking hands with the Indian start-ups. Things are starting to look positive on the start-up front with such an optimistic environment and the government taking constructive steps in this regard. The future looks promising on Indian start-up front in the coming years.
Role of Women and Retired Professionals in the Freelance Industry
The role of skilled women and retired professionals is massive in the freelance sector. Women professionals are generally forced to sit at home because of social obligations and family responsibilities. As a result, their qualification, degree, potential and capabilities remain unused and they are not able to contribute to the family income. Married women face extra pressures because of the additional responsibilities. They are unable to go out and work under a regular job. As a result, their careers face the brunt. Hence, skilled women professionals have started to go for the freelancing sector
Renowned Skills Demanded in the Indian Freelance Industry
- IT and Website related services
- Content Marketing
- User Interface Design
- Graphics Design
- Digital and Online Marketing
- Web Architecture and Development Frameworks
- Data Presentation
- Mobile Development
- Algorithm Design
- Social Media Marketing
- Game Development
- Shell Scripting Languages
- Middleware and Integration Software
- PR and Communications