Uber Generated Rs. 44,600 Crore in Economic Value for the Economy in 2021: Report

Uber India created an estimated Rs. 44,600 crore in economic value for the Indian economy last year, according to a report. The ride-hailing service reportedly contributed nearly 0.8 percent of the country's generated Rs. 1.5 lakh crore in consumer surplus in 2021. The report also found that 96 percent of riders said an important reason for using the service was the convenience it offered. The company recently sold its 7.8 percent stake in Zomato for around Rs. 3,100 crore via a block deal, according to a report.

According to a report by Public First, commissioned by Uber, the company generated an economic value of Rs. 44,600 crore in the year 2021, PTI reported on Wednesday. The report was generated based on the firm's payouts to drivers, their spending on vehicles, and additional income.  

While the ride hailing service, which is available in major cities in the country, created Rs. 1.5 lakh crore in consumer surplus last year, it contributed 0.8 percent of the country's GDP, according to the Uber 2021 India Economic Impact Report by Public First.

Drivers also earn an estimated Rs. 1,700 crore a year through Uber, which is 49 percent more than the next best job alternative, as per the report. 

The report also states that riders in the country save over 16.8 crore hours a year, and that 96 percent of users said an important reason for using the service was the convenience it offered.