Ride hailing app Uber created an economic value of ₹44,600 crore for the Indian economy in 2021, a report commissioned by the company said on Wednesday.
The report, compiled by research firm Public First, measured economic impact in terms of Ubder'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.
Stats on drivers
According to the report, 96 per cent of riders find convenience as an important reason for using Uber. "In a normal year, we estimate that Uber saves riders over 16.8 crore hours a year. In fact, as per Indian riders, ridesharing is the most significant transport innovation they have experienced in the last decade," the report said.
The report estimates that 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.
"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," Under India and South Asia president Prabhjeet Singh said.