In a strategic push toward financial literacy, food delivery giant Zomato has tied up with the National Stock Exchange of India (NSE) for financial literacy training with its network of delivery partners across India.
The initiative, pioneered by Zomato’s CEO Deepinder Goyal, was aimed at enhancing the financial literacy of Zomato’s delivery partners, equipping them with all the important personal finance skills to make them more financially independent. As thousands of delivery partners played a very critical role for the company, this program reflects Zomato’s commitment to supporting its workforce more than daily earnings.
Financial Literacy Challenges in the Gig Economy
Deliveries and most gig economy workers seem to face issues of financial stability and sound money management since their income often varies, and they rarely have any access to formal training in handling finances. Moreover, financial literacy is largely overlooked within the ambit of non-traditional employment while many gig workers face problems in managing income, saving money for long-term goals, and planning for a rainy day. Observing these, Zomato has collaborated with NSE to introduce customized financial education.
National Workshops on Financial Literacy
On 22nd October 2024, Zomato and NSE launched their first financial literacy workshop in Hyderabad, Telangana. It was planned for the delivery partners only and more than 2,000 people came there to understand the foundational knowledge related to managing personal finance. There are mainly four main sessions: budgeting, savings, financial planning, and control of personal finance which gives deep elaboration on practical ideas ideal to the kind of income they experience from being a delivery partner.
Confirming the partnership, Deepinder Goyal wrote on his Twitter handle, “As a step to enhance financial awareness among the delivery partners onboarded on @zomato, I am happy to announce our partnership with @NSEIndia. Together we will host financial literacy workshops pan-India to educate the delivery partner community on nuances of personal finance management,” Goyal wrote.
Contents Developed for Financial Wealth
Pre-workshop curation of content for such workshops would be specific to the financial needs that workers in the gig economy would have. It is presupposed that most of the delivery partners may not have formal financial education, so such sessions are expected to be held in accessible language and bring examples from everyday situations. At its core, it aims to arm Zomato’s workforce with some knowledge regarding money management, savings, and strategies for building financial resilience.
Speaking about the value of the program, Goyal said, “These workshops are tailor-made for their needs. I hope these workshops become a foundation for all our delivery partners to manage, save, and grow their finances and help them in their journey to financial freedom.”
Scale Up the Literacy Program Across the Country
It will be the first of a planned series of workshops, both Zomato and NSE are looking to conduct similar sessions across multiple cities. Pan-India is the idea and creates long-term financial security among delivery partners. Such that they are better equipped to train for longer-term growth by equipping them with skills beyond mere daily income. These efforts by Zomato and NSE are truly in line with enabling a more financially secure gig economy, helping delivery partners reach a kind of financial independence and stability that is crucial in an industry such as this one, where the most welcomed news at times is no news about an increase in income.
The collaboration with NSE reiterates a commitment to the workforce and speaks to a broader vision of upping the gig economy workers across India. This is a move towards a sustainable future of delivery partners in sync with the vision of the Zomato company that aims to empower those at its heart.
