Uber, the ride-hailing San Francisco-based company, has declined report of its way out from the market of India as “unjustified rumor.” “Our commerce in India is stronger than before and we are fully pledged to catering to our driver partners and riders in the country,” a spokesperson of Uber claimed to the media in an interview this week.
A top official at SoftBank, which lately turned out to be biggest shareholder of Uber, had claimed that the firm must aim on recovering its share of the market in the U.S. and developing in main markets of the Europe, to have a quicker path to productivity. SoftBank is also the biggest stakeholder in Ola, market leader in India and arch rival of Uber. Rajeev Misra, the SoftBank panel member, claimed to the Financial Times, the UK newspaper, that Uber is leaving unprofitable nation was not exclusively about slashing its losses but that development prospects were more pledging in its fundamental markets.
This is not the initial time Misra has alluded to a possible contract between the Ola and Uber. In a statement to the media in September, he had claimed that he is expecting to be reconciled between Uber, the main competitor in the ride-hailing segment, and its portfolio firm Ola. Officials at Uber India stated that it is improbable that the firm might way out the Indian market, but speculations of an amalgamation with home-based Ola have been emerging lately.
“A way out from the country appears unfeasible as there are worldwide launches of the products from the company being trialed in the Indian industry and Uber India has also carried out a comeback to aiming on the auto sector,” an employee of Uber claimed to the media. “These are exact signs that the firm is improbable to way out the Indian market,” the source claimed on the circumstance of secrecy.