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The
company currently averages about 200,000 trips a day in India,
according to industry sources. By comparison, rival Ola, backed
by Japan's Softbank, says it clocks more than 750,000 a day and
expects to hit 1 million this month.
Uber India also said on Wednesday that its U.S.-based parent had
received fresh investment from Tata Opportunities Fund, a
private equity fund linked to India's Tata Capital. The
companies did not disclose the amount, but a source close to the
matter said it was between $75 million and $100 million.
Uber has said it will invest $1 billion in India in the next
nine months, matching its investments in China.
Wednesday's investment by the Tata fund is separate from that
amount, Uber India President Amit Jain told Reuters.
"India is a strategic market for Uber worldwide," Jain said.
"You will see us expand our operations. Getting into more
cities, rolling our more products that are focused towards
India," he said.
The company has already introduced options like uberGO in India,
where commuters can opt for hatchbacks that are more affordable.
It also accepts on-the-spot cash and card payments in some
cities, a variance from its usual online-payment model.
Uber's Indian drive comes on the heels of Ola's announcement of
its own aggressive push in the country. In April the Bengaluru-based
startup raised $400 million from investors led by Russian
billionaire Yuri Milner's DST Global.
Ola, which is valued at around $2.5 billion, plans to double the
number of cities it operates in to 200 in this fiscal year.
Uber is currently in about 18 cities - making India its
second-biggest behind the United States, in terms of number of
cities.
Jain did not give any specific targets regarding cities, but
said Uber was looking at "significant expansion" in the country.
Uber, which operates in about 60 countries and is worth an
estimated $40 billion. However, it has run into trouble with
transport authorities across the world.
In India, it has been at odds with officials in New Delhi, where
the government banned its services after an Uber driver was
accused of rape in December. A court revoked the ban this month.
(Editing by Anupama Dwivedi and Pravin Char)
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