Uber CEO Expects To Ride Developing Market Growth In Next Decade

INSUBCONTINENT EXCLUSIVE:
the next decade on developing markets like India on Tuesday, despite the problems it has faced in establishing itself in China and Southeast
Asia.India is a very competitive market with demanding consumers but its "profitability characteristics" are improving, Uber chief executive
Dara Khosrowshahi told reporters on Tuesday."If I look at Uber's growth over the next 10 years it's going to be defined by markets like
India, Africa, the Middle East more so than the developed markets such as the US and Europe," Mr Khosrowshahi said.While the United States
is Uber's biggest market, it faces stiff competition from local rival Lyft.Uber, which in August reported a second quarter loss, has not
yet said when it expects to make a profit
It is trying to convince investors that growth will come not only from its ride services, but from other logistics and food delivery
services.Last year Uber said it would increase its investments in India after it sold its Southeast Asia business to Singapore's Grab
Holdings
And in March Uber agreed to buy its Middle Eastern rival Careem.While Uber now operates in about 40 Indian cities and the country accounts
incentives, in the face of intense competition with more established, local rivals Zomato and SwiggyAsked about Indian government concerns
about a switch to ride-sharing companies like Uber and rival Ola causing a slump in car sales, Mr Khosrowshahi said this reflected a global
shift."For the newer generation the dream isn't to own a car, the dream is to have freedom
To essentially have any kind of service on demand," he said."Sometimes car ownership is a trap to prevent innovation India does not need to
be trapped by these establishments."Follow TheIndianSubcontinent for latest election news and live coverage of assembly elections 2019 in
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