Platform-based services are becoming one of the most important sources of job creation in new economies, especially in India and China, where gig economies are rapidly growing, redefining the employment patterns of the young generation and affecting the macroeconomic growth. Yet, in spite of both countries being in the process of shift between traditional labour markets towards the more flexible and technology-enabled types of work, the volume, sectoral-mix, and institutional structure of the gig economies vary significantly. Consumer-oriented services, including ride-hailing, food delivery, e-commerce logistics, and digital freelancing are also mainly focused on gig employment in India due to the high urban demand, comparatively low entry barriers, and a labour force that has little access to formal skills and capital. Compared to this, the platform economy in China has a far broader range of industry, going past consumer services and incorporating e-retail, logistics, manufacturing, healthcare, and professional consultancy, with a greater level of coordination of the state, stronger integration of digital platforms into industrial supply chains, and a more clear system of digital industrial policy. Although such structural disparities exist, gig workers in both nations have similar problems that are based on widespread informality. The nature of employment relationships is that they are usually characterized by the lack of formal contracts, they are poorly recognized under the law, they do not have any skill advancement opportunities and lastly, they do not have career progressions. Income generation is not stable and is very vulnerable to the changes in consumer demand and work distribution, and the possibilities to receive social security, including health insurance, pensions, and work-related benefits, are unequal and insufficient. These circumstances increase precariousness and instability in the employment sector, especially among youthful employees who rely more and more on the gig employment as the main source of their income. This raises the question of how employability is going to be sustained in the long run, as well as inter-generational mobility and the sustainability of development outcomes. To counter these problems, there should be coordinated policy actions to enhance skills and digital literacy, make regulatory requirements more transparent on platform-worker relationships, provide fair remuneration and redress grievances systems, and widen the social protection system through contributory, platform-mediated, or universal safety net policies.