Though India is fairly new to the concept of bike-taxis, yet it seems that the future is quite bright for this industry as a whole. Its worth mentioning that bike taxis have room for some immense opportunities. OLA Mobility, the think tank of OLA, is of the belief that bike taxis carry the potential of becoming very popular in India. So much so that they can create up to 2 million jobs here in this market.
As per the report that’s entitled, “The Power of Two Wheels’ – Bike Taxis: India’s New Shared Mobility Frontier”, it is highlighted that the impact that the bike taxis can have in India is immense. In countries like Thialand, bike taxis are extremely popular, and India can be the future of urban transportation, and lead to immense job creation.
The report said that bike taxis are capable of creating more than 2 million livelihoods. Also, such bike taxis have the potential to generate a revenue of $4-5 billion.
How Are Bike Taxis Beneficial?
The major distinguishing factor of bike taxis is that it reduces traffic congestion. People literally consider time as money, and it is of utmost significance to save time. These bikes not only help in saving time, but they come of as quite cheap.
Also, another feature that these bike taxis generate is that it improves the urban and rural mobility. Additionally, it creates employment opportunities for people almost from all sections of society.
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Some Further Stats
Two-wheelers constitute the single largest category of privately-owned vehicles. They are the most readily available assets on the roads, that can be used for shared mobility purposes. As per The Economic Survey of India 2018-19, it’s estimated that India needs to create 55-60 lakh jobs annually for the next decade. This is after assuming that the labour force participation remained at 60 percent for the next two decades.
If initiated, bike taxis have the potential of providing a good end-mile connectivity solution. It is found that 50-60 percent of the bike taxi rides occurred during two peak periods of the day – from 8 am to 12 pm, and 4 pm to 8 pm.
UberMOTO – Uber’s bike taxi segment had announced the completion of 2 million trips since its launch in India. Reports said that an UberMOTO was requested every 18 seconds in Hyderabad.