Zomato, the popular food delivery platform, has partnered with HDFC Pension to introduce a groundbreaking retirement savings initiative for gig workers. The 'NPS Platform Workers Model', launched on October 1, aims to provide much-needed financial security for the growing gig economy workforce in India.

Rapid Adoption by Delivery Partners

The new National Pension System (NPS) model has seen remarkable uptake, with over 30,000 delivery partners generating their Permanent Retirement Account Numbers within just 72 hours of the rollout. This swift adoption underscores the pressing need for such financial tools among gig workers.

Government Support and Launch

Finance Minister Nirmala Sitharaman officially launched the initiative in New Delhi during an event organized by the Pension Fund Regulatory and Development Authority (PFRDA) for NPS Diwas. The government's involvement highlights the importance of addressing retirement planning for the gig economy at a national level.

Ambitious Targets and Model Features

Zomato has set an ambitious target of enabling more than one lakh delivery partners to open NPS accounts by the end of 2025. Key features of the model include:

• Small periodic contributions to build retirement savings
• Portability across platforms, providing flexibility for workers with multiple employers

Streamlined Onboarding Process

The onboarding process leverages digital integration, utilizing existing Know Your Customer (KYC) details with worker consent. This streamlined approach aims to reduce barriers to entry and encourage widespread adoption among gig workers.

Addressing a Growing Workforce

India's gig economy is expanding rapidly, with an estimated 23.5 million platform workers projected by FY2030. However, awareness of formal retirement savings options among this workforce has been limited. Zomato's initiative seeks to address this gap, providing a structured way for gig workers to plan for their future.

Zomato's Commitment to Worker Welfare

Zomato reported approximately 5.09 lakh independent monthly active delivery partners in its latest quarterly results. The company already offers several support services at no cost to its workers, including:

• Health insurance
• Accident cover

The introduction of the NPS model further demonstrates Zomato's commitment to enhancing the welfare of its gig workforce.

Implications for the Gig Economy

This collaborative effort between Zomato and HDFC Pension could set a precedent for other platforms in the gig economy. By providing accessible retirement savings options, the initiative may help address some of the financial insecurities often associated with gig work, potentially leading to a more stable and secure workforce in this rapidly growing sector.

The success of this program could pave the way for similar models across various gig economy platforms, potentially reshaping the landscape of financial security for millions of workers in India's evolving job market.

In a move to promote healthier eating habits, food delivery giant Zomato has rolled out a new feature called 'Healthy Mode'. This innovative addition to the platform aims to help users make more informed decisions about their meal choices by providing nutritional ratings for dishes.

Nutritional Scoring System

The 'Healthy Mode' feature introduces a comprehensive scoring system for meals, ranging from Low to Super. This rating is based on several key nutritional factors:

• Protein content
• Complex carbohydrates
• Fiber
• Micronutrients

Zomato employs artificial intelligence along with restaurant data to determine these scores, offering users a quick and easy way to assess the nutritional value of their potential meal choices.

Phased Rollout

The feature has made its debut in Gurugram, with plans for expansion to other cities in the coming weeks. This gradual rollout allows Zomato to refine the feature based on user feedback and real-world performance.

CEO's Perspective

Deepinder Goyal, CEO of Zomato, shared insights into the motivation behind this new feature. He acknowledged that while Zomato had succeeded in making food ordering more convenient, the platform had fallen short in guiding users towards genuinely healthy meal options.

Goyal emphasized the high standards of the 'Healthy Mode' feature, stating that it's reliable enough for even professional athletes to use for their meal selections. This underscores Zomato's commitment to providing accurate and valuable nutritional information to its users.

Addressing Past Shortcomings

The introduction of 'Healthy Mode' also comes as a response to what Goyal described as an "uneasy" feeling about Zomato's role in facilitating indulgent eating habits without making healthier options equally accessible. This new feature represents a step towards balancing convenience with health-conscious choices.

User Feedback and Future Refinements

As the feature rolls out, Zomato is actively encouraging users to provide feedback. This user input will be crucial in refining and improving the 'Healthy Mode' feature, ensuring it meets the needs and expectations of Zomato's diverse user base.

The launch of 'Healthy Mode' marks a significant step in Zomato's evolution, as it seeks to not only connect users with restaurants but also promote healthier eating habits. As the feature expands to more cities, it has the potential to influence food choices and contribute to improved dietary habits among its users.