The expectation of Indian consumers for more services on lower spending has posed one of the biggest challenges for Uber, according to CEO Dara Khosrowshahi.
“India is one of the toughest markets out there; they (Indians) are so demanding and do not pay for anything. If we can succeed here, we can succeed anywhere else,” Khosrowshahi told Infosys co-founder Nandan Nilekani at an event in Bengaluru on Thursday, February 22.
Underlining the challenges of succeeding in the Indian market, he stated that the prime focus of the ride-hailing service provider would be to strengthen its low-cost service segments. Given the habits of Indian consumers, Uber is likely to expand its two-wheeler and three-wheeler services in the country, said Khosrowshahi while speaking on the subject of ‘Building Population Scale Technology’.
“One of the unique features of India is its digital public infrastructure that has been built but continues to be built,” he said.
Sharing the reason behind joining Uber, Dara Khosrowshahi said he found the product magical and his choice for the role was driven by his passion for the company. “It is not just a digital product, but an intersection of digital and physical,” he noted.
Talking about coping with the losses due to the Covid pandemic, Dara Khosrowshahi said the company was losing around $3 billion in terms of profitability. It was using its mobility business to fund the delivery business.
At the event, Uber also signed a pact with the government-backed Open Network for Digital Commerce (ONDC). “Our vision for Uber in India is to serve the mobility needs of all Indians. This is in line with ONDC’s objective of democratising digital commerce. We are excited to take our first step through this MoU with ONDC to explore how we can accelerate our ambition to make Uber a platform for every Indian’s daily mobility needs,” Uber India and South Asia President Prabhjeet Singh said.
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Published: 22 Feb 2024, 04:01 PM IST