Gig economy India’s 3rd pillar, delivery partners got ₹5,000 cr last yr: Swiggy’s Rohit
The gig economy has been growing at an unprecedented rate in India, and according to Swiggy’s food marketplace chief, Rohit Kapoor, it has become a “third pillar of livelihood” in the country. In a recent interview with Moneycontrol, Kapoor revealed that the food delivery platform paid out more than ₹5,000 crore to its delivery partners last year, highlighting the substantial amount of income flowing back into their hands.
This statement is significant, especially considering the continued scrutiny of delivery partner earnings. The gig economy has been under the microscope, with many questioning the fairness of the compensation and benefits provided to delivery partners. However, Kapoor’s remarks suggest that the gig economy is not only providing a source of income but also becoming a vital part of the Indian economy.
The gig economy, which includes platforms like Swiggy, Zomato, and Ola, has been growing rapidly in India. The sector has created millions of jobs and has become a significant contributor to the country’s GDP. According to a report by Boston Consulting Group, the gig economy is expected to grow to $455 billion by 2025, with India being one of the largest markets.
Kapoor’s statement also highlights the importance of the gig economy in providing income opportunities to people who may not have access to traditional employment. The gig economy has been particularly beneficial for those in the informal sector, who can now earn a living by working as delivery partners, drivers, or freelancers.
The payment of ₹5,000 crore to delivery partners is a significant amount, and it underscores the scale of the gig economy in India. It also suggests that the sector is not only providing a source of income but also generating substantial revenue. The payment is also a testament to the growth of Swiggy, which has become one of the largest food delivery platforms in the country.
The gig economy has also been credited with promoting entrepreneurship and innovation in India. Many startups have emerged in the sector, providing new and innovative services to customers. The sector has also attracted significant investment, with many venture capital firms and investors betting on the growth of the gig economy.
However, the gig economy is not without its challenges. One of the major concerns is the lack of social security and benefits for delivery partners. Many delivery partners work long hours without access to basic benefits like health insurance, pension, or paid leave. The sector is also plagued by issues like low pay, poor working conditions, and lack of job security.
To address these concerns, many platforms, including Swiggy, have started providing benefits and incentives to their delivery partners. For example, Swiggy has introduced a range of benefits, including health insurance, accident insurance, and a pension scheme, to its delivery partners. The platform has also introduced a range of incentives, including bonuses and rewards, to motivate its delivery partners.
In conclusion, the gig economy has become a vital part of the Indian economy, and it is providing a source of income to millions of people. The payment of ₹5,000 crore to delivery partners by Swiggy is a significant amount, and it highlights the scale and growth of the sector. However, the sector is not without its challenges, and it is essential to address the concerns of delivery partners to ensure that they are treated fairly and provided with adequate benefits and incentives.
As the gig economy continues to grow, it is likely to play an even more significant role in the Indian economy. The sector has the potential to create millions of jobs and provide a source of income to people who may not have access to traditional employment. However, it is essential to ensure that the sector is regulated and that delivery partners are provided with adequate benefits and incentives.
The growth of the gig economy is also likely to have a significant impact on the Indian economy. The sector is expected to contribute significantly to the country’s GDP and provide a source of income to millions of people. The sector is also likely to promote entrepreneurship and innovation, leading to the emergence of new startups and businesses.
In the end, the gig economy is a significant sector that has the potential to transform the Indian economy. The payment of ₹5,000 crore to delivery partners by Swiggy is a significant amount, and it highlights the growth and scale of the sector. As the sector continues to grow, it is essential to ensure that delivery partners are treated fairly and provided with adequate benefits and incentives.
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