India: A State of Mind for Uber, Says CEO Dara Khosrowshahi
The executive, originally from Iran, is presently visiting the country.
During his visit to India, Uber CEO Dara Khosrowshahi characterized the country not only as a market with immense potential but also as a fundamental aspect of the company’s ethos, referring to it as a ‘state of mind’.
Speaking to The Economic Times, Khosrowshahi, who assumed the role of Uber’s CEO in August 2017, following Travis Kalanick, the co-founder of the San Francisco-based company, acknowledged that Indian customers are discerning, expecting high-quality service at competitive prices.
He went on to characterize India’s digital public infrastructure, including Aadhaar, payment systems like Unified Payments Interface (UPI), and the Open Network for Digital Commerce (ONDC), as ‘unparalleled’ and ‘unlike anything seen elsewhere in the world.’
He expressed that this development lays the groundwork for an extraordinary period of innovation on a large scale over the next five to ten years, positioning India in an advantageous position, which Uber aims to contribute to through its own innovations.
When questioned about how Uber manages to thrive in India, the 54-year-old executive, originally from Iran, emphasized the importance of adopting an entrepreneurial mindset and creating a service that is both extremely cost-effective and meets customer expectations.
“The significant profitability of our major markets such as the United States and Europe serves as a strength, enabling us to focus and invest in regions like India, which not only offer immense potential but also boast substantial market size,” elucidated the ex-CEO of Expedia.
Khosrowshahi remarked that the ride-hailing aggregator’s market dominance in India is currently at its peak, indicating that the Indian market holds potential for long-term profitability for the company.
Khosrowshahi mentioned that Uber has approximately 900,000 drivers across its operations in India, highlighting that Brazil boasts over one million (10 lakh) drivers partnering with Uber. He expressed confidence in achieving a similar milestone in India.
Furthermore, he disclosed that India is among the top 10 countries for Uber in terms of bookings.
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