According to a research, Uber India generated over Rs. 44,600 crore in economic value for the Indian economy last year. According to reports, the ride-hailing business made up over 0.8 percent of the nation’s 1.5 lakh crore consumer surplus in 2021. 96 percent of riders surveyed in the report cited convenience as a key factor in their decision to use the service. According to a source, the corporation recently sold its 7.8% interest in Zomato for about Rs. 3,100 crore through a block sale.
Uber reportedly created an economic value of Rs. 44,600 crore in 2021, according to a report by Public First that was commissioned by the business, PTI reported on Wednesday. The company’s payments to drivers, their expenditures on vehicles, and additional money were used to create 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 the Uber 2021 India Economic Impact Report by Public First, the ride-hailing service, which is operating in the country’s major cities, generated Rs. 1.5 lakh crore in consumer surplus last year but only contributed 0.8 percent of the nation’s GDP. According to the survey, drivers at Uber make an estimated Rs. 1,700 crore annually, which is 49% more than the next best alternative.
Prabhjeet Singh, head of Uber India and South Asia, 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.”