Uber to trigger activities worth ₹36,000 cr. in India’s transportation sector in 2024: report

Uber Auto and Uber Moto services in India are expected to drive economic activities to the tune of ₹36,000 crore in the country’s transportation landscape in 2024, said a report released by the ride-hailing app, on Wednesday.

These services not only provided convenient options for commuters but also contributed to the overall growth of the economy by connecting people to jobs and opportunities, it said in its 2024 India Economic Impact report.

The report also projected that the country’s ride-hailing auto industry would see a 50% additional growth in the next five years. Addressing the media here Prabhjeet Singh, President, Uber India and South Asia said, “India was one of the fastest growing ride-hailing markets in the world. Post pandemic, the sector is growing in the mid to high 30% range.’‘

Mr. Singh further said, Uber was committed to transforming the mobility landscape in the country while driving economic growth.

Uber’s driver-partners in India are estimated to earn an additional 60% in higher income this year, relative to their next best alternative type of work, as per the report, prepared by UK-based, Public First. By increasing mobility, Uber created a spill over impact on local economies, for instance 70% riders it surveyed said Uber services made it easier for them to try out new restaurants and bars situated far away, the report claimed.

Published - October 24, 2024 12:47 am IST