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Why India may be a market Uber can’t afford to lose

business Updated: Aug 01, 2016 14:28 IST
Mihir Dalal
Mihir Dalal
Live Mint

India may become a market Uber cannot afford to lose.(Reuters File Photo)

After the merger of Uber’s China unit with Didi Chuxing, the largest ride-hailing service in China, India may become for Uber what it is for another American tech giant, Amazon: a market it cannot afford to lose.

Uber, the world’s most valuable start-up, will merge its China unit with Didi Chuxing in a deal likely to be announced on Monday, according to Bloomberg and other websites. The combined entity will be valued at $35 billion and Didi will also invest $1 billion in Uber’s global entity at a valuation of $68 billion, according to the report.

A merger of Uber China and Didi will present an awkward scenario for Ola, India’s largest cab-hailing service. Didi is already a strategic investor in Ola (promoted by ANI Technologies Pvt Ltd); the Chinese company participated in a $500 million funding round into Ola late last year.

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