Rank 9 | Company: PayPal | Sector: Industrial | PWC 2020 position: 75 | FBI global ranking 2018: New entry
Most Indian freelancers earn an average of Rs 20 lakh per annum, a report by digital payments platform PayPal said, adding that 23 percent of the freelancers surveyed for the report earned Rs 60 lakh a year.
The report, which highlighted the strong growth prospects of freelancing in India and the challenges faced by Indian freelancers, was based on a survey of 500 freelancers from across the country.
The survey found that most Indian freelancers are men and are aged under 40. Out of all the freelancers surveyed, 41 percent said they had seen very fast growth in the last 12 months, and 80 percent confirmed that they were working on both international and domestic assignments.
In India, web and mobile development, web designing, data entry and internet research account for the lion’s share of work for freelancers. Some of them, however, also take up graphic design assignments or provide consultancy services.
"We are focused on cross-border trade and we will continue to because that is where a significant opportunity lies for us. But, as far as our growth plan is concerned, the freelancer segment is something that we will clearly focus on," said Narsi Subramanian, Director – Growth, PayPal India.
The survey found that of the work that comes in from abroad, most of it comes from Australia, UK and the United States. It also found that for an Indian freelancer, an average of 15 projects a year and 13 retainer clients is the threshold for assured stability and security.
"Of the wide range of aspects, freelancers feel that they need external support in aspects such as setting up their own website, finding and retaining clients, fee and negotiation advice, protection and insurance," the report said.