Ola, Swiggy or Zomato–Which unicorn has created more jobs?
Any startup ecosystem needs the right milieu to flourish and the past six years have provided just that, leading to the creation of millions of jobs in India.
Even as India raises a toast to its 100 unicorns for giving jobs to millions, it’s important to recognise the role played by infrastructure developments—especially, low-cost data and the united payments interface (UPI)—in making this possible.
For their part, the 100 unicorns of India have created an average of 3,489 full-time jobs, as of date. While 34 unicorns have created under 1,000 jobs—ranging from 100 to 854—the remaining 66 have created 2.83 million out of the 2.84 million jobs.
Among the 66 unicorns, the top 10 have a lion’s share of the 2.58 million jobs, accounting for 90.5 percent of the total.
, with 1.5 million drivers in its ecosystem and 12,000 employees on its rolls, accounts for 53 percent of the total jobs created. This is followed by , which has 3.5 lakh delivery partners and 4,259 employees, representing 12.4 percent of the total job creation.
(7.85 percent), (7.19 percent), and (3.10 percent) complete the top 5 unicorns on the job creation league table.
But what has really helped move the needle is the 2016 launch of the Unified Payments Interface (UPI), the brainchild of the PM Modi-led National Democratic Alliance government.
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