Uber's ride-hailing service to generate Rs 36,000 cr worth of economic activity in India in 2024
New Delhi: Uber's two- and three-wheeler services, Uber Moto and Uber Auto, are projected to generate up to Rs 36,000 crore in economic activity in India in 2024, according to the company's 2024 India Economic Impact report.
The report, prepared by research firm Public First, highlights the growing role of these services in enhancing last-mile connectivity across the country.
The study estimates that Uber’s driver-partners will earn an additional 60% income in 2024 compared to their next best alternative jobs, reflecting the financial advantages of the platform.
Since entering India in 2013, Uber has expanded to 125 cities, offering services that cater to both intracity and intercity travel through two-wheelers (Moto), three-wheelers (Auto), cars, and buses.
According to the report, Uber's platform has increased driver earnings by about 24% on average, compared to earnings without a ride-hailing platform.
Additionally, 65% of drivers stated that Uber has provided them with better job opportunities than they would otherwise have had.
Regarding safety, the report found that 95% of female riders cited safety as their primary reason for using Uber, compared to 84% who believe that Uber offers the safest option for getting home.
In Bengaluru, 93% of riders noted time savings as a key factor for using Uber, with 80% agreeing that the service has enhanced travel speed.
Meanwhile, in Delhi, 74% of riders expressed a preference for electric vehicles (EVs), and 56% indicated they would choose an EV option even at a higher fare.
The report underscores the significance of Uber Auto and Moto, projecting that these services will drive Rs 36,000 crore in economic activity throughout 2024.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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