The role of Informal Markets in Urban Development and Social Dynamics

Abstract

This research investigates the role of informal markets in India's urban economies, focusing on their economic contributions, socio-cultural significance, and associated challenges. Using secondary data from peer-reviewed sources, the study explores how informal markets provide employment, foster community bonding, and adapt to urban changes. Findings reveal significant socio-economic difficulties faced by informal market workers, including legal insecurities and economic vulnerabilities. The research highlights the need for inclusive urban policies to better integrate informal markets into formal economies, thereby enhancing economic resilience and social cohesion. This study offers valuable insights for policymakers on supporting informal markets as essential components of urban development.