Uber, Ola enter new phase of competition, take a risky road to growth

With the Uber CEO affirming its commitment to India, the big two ride-hailing aggregators are entering a new phase of competition

It might be a difficult market to crack, especially when the average revenue per user (ARPU) is one tenth of the global average at $11. The combined revenues of ride-hailing companies in India do not make it to the top ten markets in the globe, with China grabbing half the global revenues $57,705 million.  India’s contribution to global revenues of the ride-hailing companies is expected to be a minuscule 0.65 per cent at $371 million this year, according to Statista, a global firm that tracks the sector.

So why is it still such an attractive market? That’s because 7 per cent