Ride hailing app Uber generated Rs 44,600 crore worth value for India's economy in 2021, helping drivers earn an additional Rs 1,700 crore in higher income, Ubar  announced on Wednesday.

 Rides with Uber produced 1.5 lakh crore trillion in consumer surplus for the Indian riders in 2021 -- equivalent to 0.8 percent of the GDP. "During a challenging time in India in 2021 which was marked by a brutal second Covid wave, Uber unlocked an estimated Rs 44,600 crore in economic value for the Indian economy," said Prabhjeet Singh, President, Uber India and South Asia.

As per estimates, Uber saves riders over 16.8 crore hours a year, according to the company's   2021 India Economic Impact Report', compiled by Public First. While 96 percent of riders say that convenience is an important reason they use Uber, 97 percent of female riders say safety is an important factor in their choice to use the ride-hailing app.

"In total, in 2021, we estimate that driver-partners earn an additional Rs 1,700 crore a year in higher income through Uber, or an average of 49 percent more than their next best alternative type of work," the report mentioned. Nearly 84 percent of riders without access to a car said the availability of ridesharing services like Uber was important to their choice of not owning a vehicle. "In total, we estimate that one in four Uber trips connect with public transport," said the company. Singh said thatthe company is pleased to see that "our journey over the past nine years in India has made a significant contribution to our economy".

Corporate bond outstanding scales up 4-fold to Rs 40-La-Cr in a decade

Adani Vs NDTV: Contractual terms of warrants will be key in Adani bid for NDTV

Finance Ministry makes unauthorised publication of exim data offence