Countries like Australia, the US and the UK account for significant amount of work for Indian freelancers working in various areas like technology, accounting and consulting, a report by digital payments major PayPal today said.
The report found that most Indian freelancers are under the age of 40 and are predominantly male. Also, web and mobile development, web designing, Internet research and data entry emerged as the key focus areas.
Many are also engaged in accounting, graphic design and consultancy, the report added.
“India is one of the largest freelancer markets in the world and growing. We found 41 per cent respondents saying they have witnessed very fast growth in the past 12 months,” PayPal India Director Growth Narsi Subramanian said.
He added that Indian freelancers are working with international as well as domestic clients, with a significant amount of work coming from Australia, the US and the UK. Respondents stated various reasons for choosing freelancing including increased income, flexibility in schedules and ability to choose who to work for.
It added that most Indian freelancers earn an average of Rs 20 lakh annually.
Interestingly, close to 61 per cent respondents said they have not been paid at least once through their career. Also, many said they receive payments only after 2-4 weeks of invoicing, thereby creating a gap in flow of capital.
“Receiving payments in a timely, safe and secure manner is one of the key concerns for this community. Our key offerings such as PayPal.me and Seller Protection for Intangibles have helped solve payment related hurdles and propelled growth for this segment,” Subramanian said.
The findings are part of a global study that included 6,000 respondents, including from India.