How Uber CEO Dara Khosrowshahi plans to crack the toughest market in the world

How Uber CEO Dara Khosrowshahi plans to crack the toughest market in the world

Uber wants to quicken an expansion into the cheaper but potentially larger market for two- and three-wheeled rides in India, extending a long-running rivalry with local provider Ola.

Chief Executive Officer Dara Khosrowshahi on Thursday talked about how Uber was trying out services from scooters to motorbikes in what he called his “toughest market,” providing a model for expansion in other countries.

The CEO also broached the idea of bus services during an onstage conversation in Bengaluru with Nandan Nilekani, the co-founder and chairman of Infosys.

Uber just scored its first annual profit, a milestone for a company that’s at times struggled to make headway in the fast-growth markets of the region. In India, both Uber and Ola have struggled to eke out a consistent profit in a rapidly growing but price-sensitive market.

Khosrowshahi inked a memorandum of understanding to explore joining the Open Network for Digital Commerce  to try and standardize online transactions and finance. The US ride-hailing leader’s potential membership could boost India’s ambitions to build a complete digital infrastructure to support what it envisions will be rapid growth of the online economy.

“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.

In a conversation with Nilekani on building population scale technology, Khosrowshahi said global companies and governments can learn from the scale and ambition of India’s digital public infrastructure.  “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.”

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