Gig economy India’s 3rd pillar, delivery partners got ₹5,000 cr last yr: Swiggy’s Rohit
The gig economy has been on the rise in India, and it’s no surprise that it has become a vital part of the country’s livelihood. According to Rohit Kapoor, the food marketplace chief of Swiggy, the gig economy has become the “third pillar of livelihood” in India. This statement comes amid continued scrutiny of delivery partner earnings, highlighting the significant impact of the gig economy on the lives of millions of Indians.
In an interview with Moneycontrol, Kapoor revealed that Swiggy’s delivery partners earned a substantial amount of money last year. “Last year, we would have paid out more than ₹5,000 crore, so there is a substantial amount of income flowing back into delivery partners’ hands,” he said. This amount is a testament to the growing importance of the gig economy in India, where millions of people are turning to platforms like Swiggy, Zomato, and Uber to earn a living.
The gig economy has been growing rapidly in India, driven by the increasing demand for food delivery, ride-hailing, and other services. According to a report by ResearchAndMarkets.com, the Indian gig economy is expected to grow at a CAGR of 17.1% from 2020 to 2025, reaching a market size of $4.8 billion by 2025. This growth is driven by the increasing adoption of digital platforms, the rise of the middle class, and the growing demand for flexible work arrangements.
The gig economy has also created new opportunities for people who were previously unemployed or underemployed. Many Indians have turned to the gig economy as a way to supplement their income, with some even making it their primary source of earnings. According to a report by Ola, the ride-hailing company, its drivers earn an average of ₹40,000 per month, which is higher than the average salary of many Indians.
However, the gig economy has also faced criticism for its treatment of workers. Many delivery partners and drivers have complained about low earnings, long working hours, and lack of benefits. The issue of worker rights has been a contentious one, with many advocating for better working conditions, higher pay, and greater protections for gig workers.
Despite these challenges, the gig economy continues to grow and evolve in India. Companies like Swiggy, Zomato, and Ola are working to improve the working conditions and earnings of their delivery partners and drivers. For example, Swiggy has introduced a number of initiatives to support its delivery partners, including a health insurance program and a scheme to provide financial assistance to partners who are injured on the job.
The growth of the gig economy in India has also been driven by government initiatives. The government has introduced a number of policies to support the growth of the gig economy, including the introduction of the Gig Workers Bill, which aims to provide social security benefits to gig workers. The government has also launched a number of initiatives to promote the use of digital platforms and to support the growth of startups in the gig economy.
In conclusion, the gig economy has become a vital part of India’s livelihood, with millions of people turning to platforms like Swiggy, Zomato, and Uber to earn a living. The growth of the gig economy has created new opportunities for people who were previously unemployed or underemployed, and has provided a substantial amount of income to delivery partners and drivers. However, the gig economy also faces challenges, including the issue of worker rights and the need for better working conditions and higher pay.
As the gig economy continues to evolve and grow in India, it’s likely that we will see new initiatives and innovations emerge to support the growth of this sector. With the government’s support and the efforts of companies like Swiggy, Zomato, and Ola, the gig economy is likely to continue to play a vital role in India’s economy, providing new opportunities and income streams for millions of Indians.
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