Pradeep Parameswaran, regional general manager for Asia-Pacific, predicts that Uber’s India business would soon experience rapid growth and profitability.
Uber’s increasing unit economics were mentioned in a Mint story by Parameswaran, who also noted that the company’s unit economics in India have improved dramatically in recent years. He added that India will eventually turn into a lucrative market for Uber. The US-based ride-hailing startup does not yet have a schedule for profitability, but Parameswaran added that it is not too far off. The APAC general manager estimates that the market penetration of Indian ride-hailing services like Uber and Ola is only 0.3%.
Due to the low penetration and growing demand for ride-hailing services, Uber anticipates making a profit shortly.