UBER Investing $1 Billion in India

Controversial Uber Technologies Inc will invest $1 billion (about Rs 6,400 crore) in India in the next few months to expand its operations. This investment will help Uber expand beyond 18 cities across india where they are currently operating in.They Will also use the investment for developing payment solutions and their back-end support network.
 

As per PTI, Uber India President Amit Jain Said,

"We are extremely bullish on the Indian market and see tremendous potential here. India is one of Uber's big priorities, along with China and uberPOOL... This is why Uber is committing an additional $1 billion to India in the next nine months,"  

Elaborating further on the Indian market, Jain Said in a statement made on Friday,

"We are extremely bullish on the Indian market and see tremendous potential here,"

"Uber has grown exponentially in India."
He added "We are continuing to see robust 40% growth month-on-month and with more investment in product, hiring, and payment solutions, we expect to grow at an even faster rate."
As per news report published in PTI,Earlier this month, Uber said it will invest $50 million in Hyderabad over the next five years to establish a facility that will house hundreds of its employees and would be its biggest international office.The US-based company had also signed an agreement with the Telangana government to set up a 'state-of-the-art facility' to ramp up its India operations.
Recently, Uber had been in legal trouble in the capital, New Delhi, where the government decided to ban its services after an Uber driver was accused of rape in December. But a court revoked the ban this month.
Though, Uber has been taking precautionary measures to put in place a robust process for the screening of  its driver and in-app safety features but this cant be denied that their legal troubles have hit the brand so badly that it now requires to work towards uplifting the image of Uber in India. 

It has also modified its global business model to accept cash payment in some Indian cities. 

 

As per news reports, The company on Friday said it aimed to attain 1 million rides daily in India within six to nine months. As per sources, Uber now records 200,000 trips daily.

.........................................................................................................

News Inputs- PTI, Image Source:-google image search

Share on Google Plus

About Goveiind Miishraa