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Uber to invest $ 1 billion in India over 9 months
Uber Technologies expects to hit over 1 million trips per day in the next six to nine months in India, the largest market outside the U.S. for the ride-hailing company. Quoting Uber’s India president Amit Jain, The Economic Times reported that the startup also was looking to grow its driver network and public-private partnerships.
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The logo of car-sharing service app Uber on a smartphone over a reserved lane for taxis in a street is seen in this photo illustration taken in Madrid on December 10, 2014.
Uber said it would use the additional investment to improve operations, expand into newer cities, and develop new products and payment solutions.
Uber stated that this transfer would assist its service attain 1 million every day rides by March 2016, the primary time the corporate has set such goal for India, FT stated.
The government had told unregistered web-based taxi services like Uber to halt operations in the wake of the rape accusations. Uber’s service in the city was banned soon after, but a Delhi court lifted the ban recently, while the company applies for a license under newer stricter rules of the Delhi transport department.
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“India is one of Uber’s big priorities, along with China and uberPOOL”, Jain said, referring to the company’s carpooling program. The investment in the capital the state of Telangana will create “thousands of jobs and entrepreneurship opportunities”, Uber said in a statement at the start of this month. It has also tangled with transportation authorities across the globe, along with attorneys seeking to deem Uber drivers employees entitled to benefits.