Uber Says It Generated Rs 44,600 Crore Worth Of Value For Indian Economy In 2021
Uber's ¡®2021 India Economic Impact Report¡¯ was compiled and released yesterday by Public First, which is a UK-based policy, research, opinion and strategy consultancy.
Ride hailing app Uber generated Rs 44,600 crore worth value for India's economy in 2021, helping drivers earn an additional Rs 1,700 crore in higher income, the company's report revealed yesterday.
Rides with Uber reportedly produced 1.5 lakh crore trillion in consumer surplus for the Indian riders in 2021, i.e. equivalent to 0.8%of the GDP, as per report insights mentioned by IANS.
"During a challenging time in India in 2021 which was marked by a brutal second COVID wave, Uber unlocked an estimated Rs 44,600 crore in economic value for the Indian economy," said Prabhjeet Singh, President, Uber India and South Asia.
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As per estimates, Uber saves riders over 16.8 crore hours a year, according to the company's ¡®2021 India Economic Impact Report¡¯.
In fact, as per Indian riders, ride-sharing is the most significant transport innovation they have experienced in the last decade." The report was compiled by Public First, a UK-based policy, research, opinion and strategy consultancy.
The report measured economic impact in terms of Uber's driver-partner payouts, indirect and direct impact of driver-partner spending on vehicles and induced impact of additional driver-partner income. Uber claims to have around 6 lakh driver-partners in India.
Safety Important For Female Riders
While 96% of riders say that convenience is an important reason they use Uber, 97% of female riders say safety is an important factor in their choice to use the ride-hailing app.
"In total, in 2021, we estimate that driver-partners earn an additional Rs 1,700 crore a year in higher income through Uber, or an average of 49 percent more than their next best alternative type of work," the report mentioned.
Nearly 84% of riders without access to a car said the availability of ride-sharing services like Uber was important to their choice of not owning a vehicle.
Also Read: How This Cancer Survivor Built A Rs 150-crore Uber-Like Aviation Company
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"In total, we estimate that one in four Uber trips connect with public transport," said the company.
Uber India President Singh also said that the company is pleased to see that "our journey over the past nine years in India has made a significant contribution to our economy".
Also Read: Make Sense - Does It Make Sense To Buy A New Car Or Just Uber Everywhere
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