WASHINGTON (Sputnik) — The global transportation service company Uber is investing $1 billion into the Indian market over the next nine months, local media reported.
India is the second largest market for Uber, offering different services in 18 Indian cities, The Los Angeles Times reported on Friday.
“India is one of Uber’s big priorities, along with China,” the Los Angeles Times quoted Uber India President Amit Jain as saying. “With this investment and the strong rate of growth we are seeing, we expect to hit over one million trips per day in the next six to nine months.”
Moreover, Uber was accused of misleading customers because it did not have the permits required to operate a taxi service.
The new funds will be used to launch operations in new cities and developing payment solutions and products, media said.
Uber is headquartered in San Francisco, California and operates in 57 countries around the world. The company connects consumers who use smartphones with drivers who use their own cars.
Uber has seen an international upsurge in popularity because of lower prices and convenient service.