India’s shared economy gets a booster shot as millennials return to the cities

Concept by Shelley Singh and Muhabit ul haq

Synopsis

The pandemic has hit the reset button on India’s shared economy. From co-working to co-living to ride-sharing, businesses in the segment are reinventing themselves to adapt to the post-pandemic world. And, with the millennials returning from their hometowns, a sharp recovery is expected in these businesses.

Before the pandemic hit India in early 2020, the country’s shared economy was witnessing rapid growth, mirroring the broader trend in Asia. But with the coronavirus confining people to their homes, businesses such as co-working, co-living, ride-sharing, furniture rentals, etc., took a hard blow.The millennials have been always attracted to the asset-light and debt-free life that collaborative consumption offers. However, as they returned from

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