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, providing a new avenue for individuals to earn a living. According to Rohit Kapoor, the food marketplace chief of Swiggy, the gig economy has become a “third pillar of livelihood” in the country. This statement comes at a time when the gig economy is facing increased scrutiny over the earnings of delivery partners. Despite the challenges, Kapoor’s remarks highlight the significant impact that the gig economy is having on the lives of millions of Indians.
Speaking to Moneycontrol, Kapoor revealed that Swiggy paid out more than ₹5,000 crore to its delivery partners last year. This substantial amount of income is a testament to the growing importance of the gig economy in India. The gig economy, which includes companies like Swiggy, Zomato, and Ola, has created new opportunities for individuals to work on a flexible, freelance basis. This has been particularly beneficial for those who may not have been able to find traditional employment or who are looking to supplement their income.
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 to $455 billion by 2028, up from $113 billion in 2021. This growth is being driven by the increasing adoption of digital technologies, the rising demand for flexible work arrangements, and the growing need for skilled workers.
One of the key benefits of the gig economy is that it provides individuals with the flexibility to choose when and how much they want to work. This is particularly beneficial for those who may have other commitments, such as family or education, and who are not able to work traditional hours. The gig economy also provides opportunities for individuals to develop new skills and to gain experience in a particular field.
However, the gig economy has also faced criticism over the treatment of its workers. Many delivery partners and drivers have complained about the low earnings and the lack of benefits, such as health insurance and paid time off. There have also been concerns about the safety of workers, particularly those who work at night or in isolated areas.
Despite these challenges, Kapoor’s remarks suggest that the gig economy is having a positive impact on the lives of many Indians. The payment of more than ₹5,000 crore to delivery partners last year is a significant amount of income, and it highlights the importance of the gig economy in providing livelihoods for millions of people.
The growth of the gig economy in India is also being driven by the government’s efforts to promote entrepreneurship and job creation. The government has launched several initiatives, such as the Start-Up India program, to support start-ups and to encourage innovation. The government has also introduced policies, such as the Gig Workers Welfare Bill, to provide benefits and protections to gig workers.
In conclusion, the gig economy has become a “third pillar of livelihood” in India, providing new opportunities for individuals to earn a living. The payment of more than ₹5,000 crore to delivery partners last year is a testament to the significant impact that the gig economy is having on the lives of millions of Indians. While there are challenges that need to be addressed, the gig economy has the potential to provide livelihoods for millions of people and to drive economic growth in the country.
As the gig economy continues to grow and evolve, it is likely that we will see new innovations and opportunities emerge. The use of technology, such as artificial intelligence and blockchain, is likely to play a key role in shaping the future of the gig economy. Additionally, the growth of new industries, such as e-commerce and healthcare, is likely to create new opportunities for gig workers.
Overall, the gig economy is an important part of India’s economic landscape, and it is likely to continue to play a major role in the country’s development in the years to come. As Kapoor’s remarks suggest, the gig economy is providing livelihoods for millions of people and is driving economic growth in the country.
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