Gig economy India’s 3rd pillar, delivery partners got ₹5,000 cr last yr: Swiggy’s Rohit
The gig economy has been a topic of discussion in recent years, with its impact on the job market and the economy as a whole being debated by experts and policymakers. In a recent interview, Swiggy’s food marketplace chief, Rohit Kapoor, shed some light on the significance of the gig economy in India, stating that it has become a “third pillar of livelihood” in the country. This statement comes amid continued scrutiny of delivery partner earnings, highlighting the importance of the gig economy in providing income opportunities for a large number of people.
According to Kapoor, the gig economy has become an essential part of India’s economic landscape, providing a substantial source of income for many individuals. He noted that last year, Swiggy alone paid out more than ₹5,000 crore to its delivery partners, demonstrating the significant amount of income flowing back into the hands of these workers. This figure is a testament to the growing importance of the gig economy in India, with many people relying on platforms like Swiggy, Zomato, and Uber to earn a living.
The gig economy has been growing rapidly in India, with the rise of food delivery, ride-hailing, and other on-demand services. This growth has been driven by the increasing demand for convenience and flexibility, as well as the availability of affordable smartphones and mobile internet. As a result, millions of people have turned to the gig economy to supplement their income or to earn a full-time living.
Kapoor’s remarks highlight the significance of the gig economy in providing income opportunities for individuals who may not have access to traditional employment. The gig economy offers a flexible and scalable way for people to work, allowing them to choose when and how much they want to work. This flexibility is particularly important in India, where many people are unable to access traditional employment due to a lack of skills, education, or experience.
The gig economy has also been instrumental in promoting entrepreneurship and innovation in India. Many startups have emerged in the gig economy space, offering a range of services from food delivery to home cleaning. These startups have created new opportunities for entrepreneurs and small business owners, allowing them to innovate and disrupt traditional industries.
However, the gig economy has also faced criticism and scrutiny in recent years, with concerns raised about the working conditions, wages, and benefits of gig workers. Many gig workers have reported earning low wages, working long hours, and lacking access to benefits such as health insurance and paid time off. These concerns have led to calls for greater regulation and protection of gig workers, with some advocating for the introduction of minimum wage laws and benefits for gig workers.
In response to these concerns, many gig economy platforms have begun to introduce new initiatives and policies to support their workers. For example, Swiggy has introduced a range of benefits for its delivery partners, including health insurance, accident insurance, and a pension scheme. The company has also introduced a new earnings structure, which provides delivery partners with a guaranteed minimum earnings per hour.
The growth of the gig economy in India has also been driven by government initiatives and policies. The government has introduced a range of schemes and programs to support the growth of the gig economy, including the Startup India initiative and the Digital India program. These initiatives have provided funding, mentorship, and support to startups and entrepreneurs in the gig economy space, helping to drive innovation and growth.
In conclusion, the gig economy has become a significant part of India’s economic landscape, providing a substantial source of income for many individuals. As Swiggy’s Rohit Kapoor noted, the gig economy has become a “third pillar of livelihood” in India, offering a flexible and scalable way for people to work. While there are concerns about the working conditions and wages of gig workers, many gig economy platforms are introducing new initiatives and policies to support their workers. With the government’s support and initiatives, the gig economy is likely to continue growing and playing an increasingly important role in India’s economy.
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