Uber to invest $1 billion in India
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Uber to invest $1 billion in India

Uber the taxi service app, has committed $1 billion in investment in India over the next 9 months, an investment that will help Uber expand operations to new cities and develop new products and payment solutions.

According to Amit Jain, the India president of the San-Francisco based startup that is valued at around $50 billion, they will be establishing a great support network and public-private partnerships. Uber has grows in India since its launch in Bengaluru in 2013 and is now present in 18 cities.

Uber is at a $250 million run rate in India, with nearly 200,000 rides a day. Uber is partnering with the government of Telangana to identify and train over 2000 drivers by the end of 2016. The company has also set up its customer care facility in Hyderabad and begun to partner with autos in Delhi, and rolling out cash payment options for customers in Pune, Ahmedabad, Chandigarh, Jaipur, Kochi and Hyderabad.