Uber Technology, the America-based global transportation multinational is no doubt currently standing in a sturdy position in India, and now the CEO of the company is seeing a path to more profitability in India. The chief executive officer of Uber Technology, Travis Kalanick is expecting his company to gain more profit from the Indian market because of its undertaking with the home-based rival Ola.
As said by the head of Uber, the company hopes to gain a more lucrative rank in India soon as the ride-hailing firm goes up against home-based opponent Ola. According to the Uber-CEO, India is one of the fastest growing transportation markets of the world. With more accommodative approach towards cab services across its vibrant cities, the Indian market has turned into Uber’s most pivotal and supportive battleground in Asia after it folded its China business into local rival Didi Chuxing.
On Thursday, during a public interview hosted by Amitabh Kant, the CEO of NITI Aayog in the capital of India, New Delhi, Uber-CEO Travis Kalanick said, he can clearly witness a path going towards more prosperity in India. “Our expectations for online cab service in India are really high, and by witnessing an impressive growth over the years, we are now happy.”
To recall, Uber Technology launched its online cab booking service in India three years ago. Currently, Uber is operating its services in 29 cities across the country. On the other hand, while its home-grown competitor Ola is currently active in 102 cities in India. In last fiscal year, Uber was reported to invest whopping $1 billion in the transportation market of India but failed to get the expected figure.
But now, as a new financial year is going to start, Uber is gearing up with new marketing strategies and new investment policies through which it will be able to create a more stable position in the dynamic Indian market.