The story of the impact of COVID-19 on India’s gig economy—largely dominated by the on-demand sector—is quite interesting. On one hand, we have job losses and reverse-migration and on the other, we hear about isolated yet unparalleled demand for services (Swiggy and Zomato both received their biggest share of orders yet on the New Year’s Eve 2020).
One could conclude that the business model of these organisations allows for a controlled exposure compared to other ODE players, hence, promotes customer confidence. But how does one explain 20-25 per cent recovery for Uber and Ola in August 2020 and INR 135 crore of reduced net losses for PVR in Q3 of FY20 than Q2?
A report by the Boston Consulting Group and the Michael and Susan Dell Foundation might provide some answers. As per the report, the gig economy has the potential to create up to 90 million jobs in India post pandemic.
Recent Comments