According to a Google and Oxford Economics report, Indian YouTubers contributed over ₹10,000 crores to the country’s GDP. At the same time, the influencer ecosystem has supported more than 7.5 lakh full-time jobs in India. Ajay Vidyasagar, Director-South, SouthEast Asia and APAC Emerging Markets, YouTube, said, “We are delighted that YouTube’s creative ecosystem continues to power India’s creator economy, supporting new jobs and opportunities across the length and breadth of the country.”
Indian YouTubers Contributed ₹6,800 Crore to the Country’s GDP in 2020
According to the report, the company polled 5,633 YouTube artists of all sizes, 4,021 consumers, and 523 companies from a variety of industries. The survey revealed that the Indian YouTubers supported 6,83,900 jobs and contributed ₹ 6,800 crores to the nation’s GDP in 2020. “Billions of people consume the content powered by YouTube creators in India the world over. This has helped creators unlock monetization opportunities, allowing many to convert their passions into sustainable careers,” reads the report.
YouTube has been the heart of the ‘Creators Economy,’ and the recent introduction of Reliance Jio – cheap, high-speed internet – acted as a catalyst in contributing to the increasing number of influencers and content creators. Google has also announced the launch of Courses that will further fuel the creators’ economy and will help them monetize their content.
India Can Be a Shining Example: Sundar Pichai
THE CEO of Google, Sundar Pichai, has said that India is a shining example of harnessing technical prowess and government-backed entities such as the Unified Payments Interface (UPI) and Aadhaar to create open and connected stacks. Sundar Pichai said, “Look at what India has accomplished with the UPI, Aadhaar, and the payments stack, and you will see the value of having an open, connected stack which works. And that is what the internet is. Having responsible regulation which preserves all of this are some of the core elements.”