While businesses were still rebounding from the first Covid wave last year, the second one hit India earlier this year, affecting all enterprises, along with ride-sharing portals, as well as the economy overall. The ride-sharing industry appears to be doing well now that the coronavirus situation is improving and the economy is on the mend. Prabhjeet Singh, Uber’s president for India and South Asia, seemed optimistic about the company’s progress in an exclusive interview with Business Standard’s Surajeet Das Gupta.
He expressed optimism about bits such as autorickshaws, as well as his firm’s India R&D function and the deployment of community protection perks for employees.
When asked if the worst was over for the car-sharing industry, he responded, that “a significant rehabilitation and acceleration is visible in the ride-sharing industry.
In several categories, the company has returned to pre-Covid levels.
Auto, motorcycle, and rental segments are doing well.
It is already visible in over 90 Indian cities and is constantly emerging.
He mentioned, to provide a broader understanding of the auto industry, that the product-market fit looks fantastic. A minimal cost solution has been developed that overcomes the hail challenge.
The advantages of electronic payments and their security are being fostered. It’s a win-win situation for cabbies, commuters, and Uber.
India seems to be an important hub not only for accessibility but also for skill. Hence the construction technology centers are located for the rest of the world here. We have two centers, one each in Hyderabad and Bengaluru. Tech teams are already 700 strong, intending to reach 1,000 by the end of the year.
When questioned about his assistance for entrepreneurs in this area by deciding to take minority stakes in them, he said, “They need technology strategies and mentoring, the incentive to explore, and financial support, and We are proud to support them on all three facets.”