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 secret that it has become a significant source of income for many individuals. In a recent statement, Swiggy’s food marketplace chief, Rohit Kapoor, revealed that the gig economy has become a “third pillar of livelihood” in India. This statement comes as a testament to the growing importance of the gig economy in the country. According to Kapoor, last year, Swiggy paid out more than ₹5,000 crore to its delivery partners, highlighting the substantial amount of income flowing back into their hands.
This revelation is significant, especially considering the continued scrutiny of delivery partner earnings. Despite the challenges faced by delivery partners, the gig economy has proven to be a vital source of income for many. The fact that Swiggy alone paid out over ₹5,000 crore to its delivery partners last year is a clear indication of the scale and scope of the gig economy in India.
The gig economy has been growing rapidly in India, driven by the increasing demand for flexible and convenient services. With the rise of food delivery, e-commerce, and ride-hailing services, the gig economy has become an essential part of the country’s economic landscape. The gig economy provides individuals with the opportunity to work on their own terms, choosing when and how much they want to work. This flexibility has made it an attractive option for many, especially those who are looking for supplemental income or want to work part-time.
The growth of the gig economy in India can be attributed to several factors. One of the primary reasons is the increasing penetration of smartphones and the internet. With more and more people having access to smartphones and the internet, the demand for online services has grown significantly. This has created a vast market for gig economy platforms, which have been able to tap into this demand and provide services that cater to the needs of consumers.
Another factor that has contributed to the growth of the gig economy in India is the rise of digital payments. With the introduction of digital payment platforms such as Paytm, Google Pay, and PhonePe, it has become easier for consumers to make payments online. This has enabled gig economy platforms to operate more efficiently, as they can now process payments quickly and securely.
The gig economy has also created new opportunities for entrepreneurship and innovation. With the rise of platforms such as Swiggy, Zomato, and Ola, there has been a surge in the number of startups and small businesses that are operating in the gig economy space. These platforms have created new opportunities for entrepreneurs and small business owners, who can now operate and grow their businesses more easily.
However, despite the growth and potential of the gig economy, there are still several challenges that need to be addressed. One of the primary concerns is the issue of worker rights and benefits. Gig economy workers are often classified as independent contractors, which means they are not entitled to the same benefits and protections as traditional employees. This has raised concerns about the exploitation of gig economy workers, who may not have access to basic benefits such as health insurance, paid time off, and retirement plans.
To address these concerns, there is a need for greater regulation and oversight of the gig economy. Governments and regulatory bodies need to establish clear guidelines and standards for gig economy platforms, to ensure that workers are protected and treated fairly. This could include measures such as minimum wage requirements, benefits packages, and protections against exploitation.
In conclusion, the gig economy has become a significant part of India’s economic landscape, and it’s clear that it’s here to stay. With Swiggy’s food marketplace chief, Rohit Kapoor, stating that the gig economy has become a “third pillar of livelihood” in India, it’s evident that the gig economy is playing a vital role in providing income and employment opportunities to many individuals. The fact that Swiggy paid out over ₹5,000 crore to its delivery partners last year is a testament to the scale and scope of the gig economy in India.
As the gig economy continues to grow and evolve, it’s essential to address the challenges and concerns that come with it. By establishing clear guidelines and standards, and ensuring that workers are protected and treated fairly, we can create a more sustainable and equitable gig economy that benefits both workers and platforms.
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