India one of our healthiest markets: Uber CEO

作者:Cherry    發表日期:2019-08-15 14:51:32

Uber chief executive Dara Khosrowshahi is committed to investing further in the Indian market but also keeping a sharp eye on "eventual profitability", as the US-based cab aggregator ramps up operations in the country.

Speaking to PTI, Khosrowshahi said India is already among the top three markets (besides the US and Latin America) for Uber and accounts for 10 per cent of its trips globally.

"I can tell you that India is a key component of our growth plan. In fact, it is one of our healthiest markets in terms of growth rates. We have over 3 lakh active drivers and we currently do over 10 million weekly trips. We think, we can increase that by 5X or 10X over the next 10 years," he said.

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Khosrowshahi emphasised that this expansion will require investment, "but as you mature, you also want to combine that investment with eventual profitability".

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"We think we're on a good road there, we just don't have a specific timeline in mind (for hitting profits). If anything, we're leaning forward in India," he said, adding that the company is confident about its competitive position in India.

Uber has been pumping in substantial funds to fuel its growth in India. In 2015, Uber announced an investment of USD 1 billion in the country to expand its services. It has also set up a response and support centre in Hyderabad with an investment of USD 50 million.

Asked about a merger with Ola was on the cards, Khosrowshahi said the company will "look at any deals that can add value to its partners and shareholders, but we believe in controlling our own destiny in India".

There have been reports about Uber and rival Ola joining forces in the Indian market. The speculations got stronger after SoftBank - an investor in Ola - joined Uber as an investor committing over USD 1 billion. Apart from India, the two now also compete in the Australian market with Ola recently launching its services in Perth and Sydney.

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