Gig economy India’s 3rd pillar, delivery partners got ₹5,000 cr last yr: Swiggy’s Rohit
The gig economy has been growing rapidly in India over the past few years, and it has now become a significant source of livelihood for many individuals. According to Rohit Kapoor, the food marketplace chief of Swiggy, the gig economy has become a “third pillar of livelihood” in India. This statement is a testament to the impact that the gig economy has had on the Indian job market.
Kapoor’s remarks came during an interview with Moneycontrol, where he discussed the current state of the gig economy in India. He highlighted the fact that the gig economy has created a substantial number of job opportunities for individuals who may not have been able to find traditional employment. “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 added.
The gig economy has been growing rapidly in India, driven by the increasing demand for food delivery, e-commerce, and other services. Companies like Swiggy, Zomato, and Uber have created a large number of job opportunities for delivery partners, who can work on a flexible schedule and earn a decent income. The gig economy has also created opportunities for individuals who may not have the skills or qualifications to find traditional employment.
However, the gig economy has also faced criticism over the years, with many arguing that it exploits workers and does not provide them with adequate benefits or job security. Delivery partners have also complained about the low earnings and the lack of benefits, such as health insurance and retirement plans. Despite these challenges, the gig economy continues to grow, and it is likely to remain a significant source of livelihood for many Indians in the years to come.
The fact that Swiggy paid out over ₹5,000 crore to its delivery partners last year is a testament to the scale of the gig economy in India. This amount is substantial, and it highlights the fact that the gig economy is a significant contributor to the Indian economy. The gig economy has also created a large number of job opportunities, with estimates suggesting that there are over 10 million gig workers in India.
The growth of the gig economy in India has also been driven by the increasing use of technology, such as mobile apps and digital platforms. These platforms have made it easier for individuals to find work and for companies to manage their workforce. The use of technology has also enabled companies to track the performance of their workers and to provide them with feedback and incentives.
However, the gig economy also faces several challenges, including the need to provide workers with better benefits and job security. Many gig workers are not entitled to the same benefits as traditional employees, such as health insurance, retirement plans, and paid leave. This can make it difficult for gig workers to plan for the future and to manage their finances.
To address these challenges, the government and companies need to work together to create a more sustainable and equitable gig economy. This can involve providing gig workers with better benefits and job security, as well as creating more opportunities for them to develop their skills and to advance their careers.
In conclusion, the gig economy has become a significant source of livelihood for many Indians, and it is likely to continue to grow in the years to come. The fact that Swiggy paid out over ₹5,000 crore to its delivery partners last year is a testament to the scale of the gig economy in India. However, the gig economy also faces several challenges, including the need to provide workers with better benefits and job security. To address these challenges, the government and companies need to work together to create a more sustainable and equitable gig economy.
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