Online ride hailing service Uber Technologies Inc is set to invest $1 billion in India, which will bring its investment on par with that in China, the Financial Times reported.
Uber said that this move would help its service reach 1 million daily rides by March 2016, the first time the company has set such target for India, FT said.
Amit Jain, president of Uber India, said the company was "extremely bullish" on the Indian market and that it continues to see a 40 percent monthly growth, FT reported.
Jain also added that the company will expand service beyond the 18 cities in which it operates, the largest number in any country outside of the United States.
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Uber said that this move would help its service reach 1 million daily rides by March 2016, the first time the company has set such target for India, FT said.
Amit Jain, president of Uber India, said the company was "extremely bullish" on the Indian market and that it continues to see a 40 percent monthly growth, FT reported.
Jain also added that the company will expand service beyond the 18 cities in which it operates, the largest number in any country outside of the United States.
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