The State of Working India 2021 report by the Centre for Sustainable Employment (CSE) at the Azim Premji University finds that the pandemic has further increased informality and led to a severe decline in earnings for the majority of workers resulting in a sudden increase in poverty. In particular, the poor, women and younger workers have disproportionately borne the brunt of the pandemic. To discuss key findings of the report and more, Yamini Aiyar (President and Chief Executive, CPR) speaks to Amit Basole (Associate Professor of Economics and Head, CSE, Azim Premji University) in this episode of India Speak. Basole sheds light on the trends in employment patterns and the dynamics of informality in India’s labour market prior to the pandemic, to make sense of the slow structural transformation in the economy. He discusses the implications of the differentiated gender dynamics, the move to informality and the loss of income for India’s economy. He further highlights what the policy response should be to the immediate crisis and the lessons that can be learned from it.