Uber Auto and Moto Expected to Contribute Rs 36,000 Crores to Economic Activity in 2024: Report
Bengaluru, 23 October 2024: Uber, a major player in India’s ride-hailing industry, has released its 2024 India Economic Impact Report in collaboration with Public First, showcasing Uber’s critical role in India’s evolving on-demand economy. After more than ten years of operations in the country, Uber continues to provide a wide range of services, including city and intercity rides, as well as bus travel options, meeting the diverse needs of Indian commuters.
As two- and three-wheeler transport gains momentum for last-mile connectivity, Uber’s Auto and Moto services have become increasingly popular. In 2024, these services are projected to contribute an impressive INR 36,000 crores to India’s economy, emphasizing Uber’s vital role in the nation’s transportation ecosystem. Beyond offering convenient commuting options, these services also foster economic growth by connecting people to jobs and services.
The report highlights key factors driving Uber’s economic contribution in India:
Key Findings:
Supporting Broader Economic Growth:
– Increased Earnings: In 2024, it is estimated that driver-partners working with Uber earn 60% more annually than they would in alternative jobs.
– Uber Auto and Moto: Expected to generate INR 36,000 crores in economic activity by the end of 2024.
– Exploring Local Communities: 70% of riders find it easier to discover new local restaurants and attractions, enhancing their experiences within their own cities.
Expanding Opportunities for Drivers:
– Higher Income: Uber drivers see a 24% income boost compared to non-platform jobs.
– Increased Job Opportunities: 65% of Uber driver-partners report more job opportunities thanks to the platform.
Enhancing Safety and Accessibility:
– Women’s Safety: A staggering 95% of female riders cite safety as the main reason for choosing Uber, with 84% stating that Uber is their safest option for returning home.
– Urban Mobility Transformation: Uber has significantly improved urban transportation, with 84% of Indians agreeing that the platform has enhanced the quality of travel in their cities.
Addressing Congestion and Pollution:
– Delhi: In Delhi, 74% of riders prefer electric vehicles (EVs), and 56% are willing to opt for EVs even at a higher price.
– Bengaluru: Time savings are a key driver for Uber usage, with 93% of riders citing it as their top reason for using the service. Additionally, 80% believe Uber has improved their travel efficiency.
Prabhjeet Singh, President of Uber India and South Asia, remarked on the findings: “We are dedicated to transforming mobility in India while contributing to the country’s economic progress. Our 2024 Economic Impact Report reflects Uber’s impact on driver earnings, rider experiences, and sustainable transportation options. We take pride in our contributions to India’s economy, strengthening connections within communities and creating livelihoods.”
