Finance & Economics

Uber CEO Aims to Get Into Cheap Rides in India’s Market

Uber Technologies Inc. intends to accelerate expansion into the cheaper but potentially larger two- and three-wheeled vehicle rides market in India.

Uber CEO Aims to Get Into Cheap Rides in India's Market

The mentioned company, which also owns an American delivery service, currently continues to compete with the Indian brand Ola which offers to book cabs.

Uber Chief Executive Officer Dara Khosrowshahi on Thursday, February 22, during an onstage conversation in Bangalore with Nandan Nilekani, billionaire, co-founder, and chairman of the board of Infosys Ltd, an IT services firm, said that his company is trying transportation solutions from scooters to motorcycles. Mr. Khosrowshahi said that the Indian market is the toughest. He also broached the idea of bus services. So far, the company is developing solutions that will allow it to achieve the goal of scaling in the South Asian country in the future.

Uber’s model of scaling up operations in India may eventually be used in other countries.

Dara Khosrowshahi rarely visits the South Asian country. It is worth noting that India is currently one of the main markets for Uber. The South Asian country as a commercial space is of particular importance to the company after the decision to cease operations in China.

Mr. Khosrowshahi came to Bangalore to personally highlight the importance of Uber signing a memorandum of understanding to explore the possibility of joining the Open Network for Digital Commerce. In this case, the company is considering the prospects of joining the state program, which was established by the administration of Indian Prime Minister Narendra Modi to standardize online transactions and finance. Uber’s potential membership in ride-hailing could be a positive factor in realizing New Delhi’s ambitions to create a full-fledged digital infrastructure necessary for the rapid growth of the online economy.

As we have reported earlier, Uber Eats Pilots Robo-Delivery in Japan.

Serhii Mikhailov

2135 Posts 0 Comments

Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.