Prof. Krishnamurthy V. Subramanian, Executive Director, International Monetary Fund, and 17th Chief Economic Adviser (2018-21), Government of India, today unveiled OMI Foundation’s report, ‘Social Protection in India’s Platform Economy: Unpacking Supply Dynamics’. The report, resulting from a 10-month study, meticulously outlines the range of social protection benefits available to platform workers in India. Engaging with 10 prominent platforms serving over 45.5 lakh workers, the report offers insights from interviews with workforce providers and government bodies overseeing worker welfare.
The report, released at the National Dialogue: Social Protection & Sustainable Welfare in Platform Economy, highlighted several key findings:
- Accident Cover: Platforms provide up to INR 10 lakhs for accident, disability & death cover, with passenger mobility platforms offering up to INR 5 lakhs and hyperlocal delivery platforms offering between INR 3 and 10 lakhs.
- Term Life Cover: Home services and e-commerce platforms offer up to INR 6 lakhs in term life cover, especially to high-performing workers.
- Maternity Cover and Menstrual Leave: Hyperlocal delivery platforms offer standout benefits for female workers with maternity cover and paid menstrual leave.
- Access to Credit: Workers engaged with passenger mobility and home services platforms benefit from improved access to credit and financial inclusion products.
- Funding Social Protection: Platforms largely fund worker social protection with optional top-up coverage. However, non-contributory health insurance and pensions remain challenging due to high costs and the transient nature of platform work.
The national dialogue acknowledged the platform economy’s nascent yet fast-evolving nature as a promising engine of inclusive livelihood generation. Establishing a sustainable social protection infrastructure requires a coordinated effort between central and state governments, with shared responsibilities from industry and workers.
Prof. Krishnamurthy V. Subramanian praised the OMI Foundation’s efforts, stating, “This insightful report, mapping the existing social protection benefits available to platform workers, is an important resource informing the development of an effective and sustainable welfare architecture. The comparative analysis of global approaches underscores the need for India to carve its path.”
Aishwarya Raman, Executive Director, OMI Foundation, emphasized the need for collaborative strategies to afford platform workers comprehensive and meaningful social protections, stating, “By leveraging digital technology and innovative social security solutions, India can pave the way for sustainable and inclusive worker benefits.”
Access the report on OMI Foundation’s website, here.
