HomeBUSINESSUber created economic value of ₹44,600 crore for India in 2021: Report

Uber created economic value of ₹44,600 crore for India in 2021: Report

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A report commissioned by ride hailing app Uber on Wednesday stated that Uber has created an economic value of 44,600 crore for the Indian economy in 2021.

Research firm Public First, measured economic impact taking 3 aspects into account, Uder’s driver-partner payouts, indirect and direct impact of driver-partner spending on vehicles and induced impact of additional driver-partner income.

“Uber created an estimated 44,600 crore in economic value for the Indian economy. Uber produced 1.5 trillion in consumer surplus in 2021, which is equivalent to 0.8 per cent of GDP,” Uber’s 2021 India Economic Impact Report said.

96% of riders prefer Uber because they find convenience as an important reason, stated the report.

“In a normal year, we estimate that Uber saves riders over 16.8 crore hours a year. In fact, as per Indian riders, ride-sharing is the most significant transport innovation they have experienced in the last decade,” the report said.

According to report estimates, driver-partners earn an additional 1,700 crore a year in higher income through Uber, or an average of 49 per cent more than their next best alternative type of work. Uber claims to have around 6 lakh driver-partners in India.

Uber India and South Asia president Prabhjeet Singh said, “During a challenging time in India in 2021 which was marked by a brutal second Covid wave, Uber unlocked an estimated 446 billion in economic value for the Indian economy. We are proud of the contribution we have made and remain committed to bringing meaningful change through every ride on the Uber platform.”

With inputs from PTI.

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