Uber Dismisses Claim That it Planned to Exit Indian Market

NEW DELHI, (IANS) – Uber on June 23 refuted a report that claimed the ride-hailing major planned to exit the Indian market and held discussions with potential buyers to sell its India business.

Bloomberg reported that the US-based company explored selling the India business, but “suspended discussions after tech startup valuations cratered.”

In a statement, an Uber spokesperson said the company never explored exiting India — not even for a minute — and the report is “categorically false.”

“India is as important to Uber today as it was when we launched nine years ago. We are serving riders and drivers across more than 100 cities, hiring Indian talent aggressively, and planning for the next decade and beyond,” the company spokesperson said.

Uber competes with SoftBank-backed Ola in the country.

Uber CEO Dara Khosrowshahi said in April that it will expand its product offerings and its team in India. Uber aims to expand its engineering talent in India to more than 1,000 people from 700 at present, he had announced.