Uber hopes to make India its second-largest market, sees Ola as competition
Advertisement
Uber is unfazed by India’s licensing norms, payments and even the row that erupted when its driver was accused of raping a passenger in 2014.
Uber ’s chief executive officer Travis Kalanick, in his interview to Economic Times, said the app-only cab service could be the second-largest market for the company in future.
"India is our third-largest country behind US and China and it's growing pretty fast. Based on sheer number of people, over time, it could be possible that India surpasses one of them,” Kalanick told ET.
Uber entered India in 2013 and since then it has been bumpy ride for the company. Talking about the regulatory environment in India and comparing it with China, Kalanick said there are interesting regulatory differences between the two South-Asian neighbours.
When asked if the Indian market was frustrating, Kalanick said, “I don't feel India has been particularly frustrating compared to other places in the world. India has been open to this kind of innovation and technology that's why we exist in so many of India's great cities."
He said Uber’s main rival in India is Soft-Bank-funded Ola, which is also the market leader.
"Competition makes us better. In terms of competitors investing in other ones, it's not what we do but that doesn't bother us," he said.
(Image: Reuters)
Advertisement
"India is our third-largest country behind US and China and it's growing pretty fast. Based on sheer number of people, over time, it could be possible that India surpasses one of them,” Kalanick told ET.
Uber entered India in 2013 and since then it has been bumpy ride for the company. Talking about the regulatory environment in India and comparing it with China, Kalanick said there are interesting regulatory differences between the two South-Asian neighbours.
When asked if the Indian market was frustrating, Kalanick said, “I don't feel India has been particularly frustrating compared to other places in the world. India has been open to this kind of innovation and technology that's why we exist in so many of India's great cities."
Advertisement
"Competition makes us better. In terms of competitors investing in other ones, it's not what we do but that doesn't bother us," he said.
(Image: Reuters)
Advertisement
- 10 Ultimate road trip routes in India for 2024
- Global stocks rally even as Sensex, Nifty fall sharply on Friday
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market