Uber is set for its India business to become a fast-growing and profitable one soon, according to Pradeep Parameswaran, regional general manager for Asia-Pacific.
In a Mint report, Parameswaran discussed the ride-hailing company’s improving unit economics; he added that Uber’s unit economics in India have improved significantly in recent years. He also stated that India will become a profitable market for Uber in the future. Furthermore, Parameswaran stated that, while the US-based ride-hailing company does not have a timeline for profitability, it is not far away. According to the APAC general manager, Indian ride-hailing companies such as Uber and Ola have only about 0.3% market penetration. This low penetration, combined with rising demand for ride-hailing services, has led Uber to believe that it will be profitable soon.
