India is a nation with nearly 1.3 billion people, dozens of massive and densely populated cities, and notoriously crowded and underdeveloped public transit, which means it’s a perfect market for ride-sharing services like Uber. Considering how much growth the company has had in India, Uber couldn’t agree more and has stated that the country is one of its top priorities. To prove this, Uber will be investing around $1 billion in India over the next nine months.
Uber will invest $1 billion in India in the next nine months as the online ride-hailing company is bullish on the Indian market. Uber said it would use the additional investment to improve operations, expand into newer cities, and develop new products and payment solutions. “Uber has grown exponentially in India, a global priority market for us, which has also quickly become the largest market geographically for Uber outside the U.S.,” Amit Jain, president of Uber India said in a statement. The news of Uber’s investment in India was first reported by the Financial Times, which said it was the first time the company had set such a target for India. Earlier this month, a Delhi court revoked a government ban on Uber, clearing the way for the company to operate in the capital city and reapply for a license. India asked unregistered Web-based taxi services to halt operations in December after a driver contracted with Uber was accused of rape. Uber applied for licenses in New Delhi but continued its operations while approvals were pending.