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Uber contributed Rs. 44,600 crore to the nation’s economy in 2021 : Report

A research claims that in the past year, Uber India contributed an estimated Rs. 44,600 crore worth of economic value to the Indian economy. The country’s consumer surplus of Rs. 1.5 lakh crore in 2021 was reportedly made up largely by the ride-hailing business, or about 0.8 percent. Furthermore, the convenience the service provided was cited by 96% of riders as a key justification for using it. A recent block sale, according to a report, saw the corporation sell its 7.8 percent ownership in Zomato for about Rs. 3,100 crore.

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 report was compiled using data from the company’s payments to drivers, their purchases of vehicles, and additional income.

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.

Based on the survey, drivers at Uber make an estimated Rs. 1,700 crore annually, which is 49% more than the next best alternative.

Riders in the nation save over 16.8 crore hours annually, and 96% of consumers cited convenience as a key factor in their decision to use the service, as per the report.

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