Despite controversies and setbacks, global cab aggregator Uber remains focussed on bolstering its presence in India. As stated by Uber’s VP Product Daniel Graf, the company will continue investing in its Indian arm, strengthening its engineering team and developing country-specific innovation in the months and years to come.
According to Graf, India is one of the company’s biggest and most significant markets globally. Uber is currently working to capitalise on the country’s growing Internet economy to gain a sizeable share of the cab aggregator market.
During a recent media interaction, Graf stated, “What’s key for us is that we have a long-term sustainable business here. In many of our markets, we are actually profitable and we know that the fundamentals of our business are very healthy. In some of our markets where we are still in hyper-growth mode, we put in extra investments to get to a place where we’re in a sustainable phase. In India, we are investing. We are investing in technology, with promotions, etc.”
India currently plays a pivotal role in the cab aggregator’s global expansion plans, especially since Uber sold its Chinese arm to local rival Didi Chuxing in August 2016. In July this year, the Dara Khosrowshahi-led company announced a $3.7 Bn merger deal with Yandex.Taxi in Russia.
Speaking about Uber’s future plans in India, the former VP of Consumer Product at Twitter added, “For us markets like India, Brazil, Indonesia, the Philippines, etc. are massively growing markets and very important for the company. We’re putting in a lot of engineering resources in India—we have 150 engineers here in Bangalore and in Hyderabad. The commitment to India as a technology centre is super important. We’re developing global solutions here in India in Hyderabad and Bengaluru, we’re going to continue to invest and grow these teams. No question about it.”
The development comes days after the cab aggregator was dragged into yet another controversy. According to reports that surfaced earlier this week, the global ride-sharing giant underwent a massive breach in October 2016, wherein data of more than 57 Mn drivers and customers were accessed illegally. Instead of reporting the infringement to authorities, Uber chose to keep the hack under wraps for over a year, going so far as to pay $100K to the attackers for their silence.