Uber to Invest Rs 120 Crore in Haryana to Help Create Smarter Cities

Ever since its inception in 2009, the Uber smartphone application has taken the taxi service industry by storm in several markets. It connects riders with drivers and has helped reduce the dependency of people on their own private modes of transport as it offers an affordable, convenient and safe alternative. The company's strategy has worked so well that today, the application can be used in almost 400 cities spread across 68 countries worldwide.

Uber today signed a Memorandum of Understanding (MoU) with the Government of Haryana at the Happening Haryana Global Investors Summit 2016. The purpose of the summit is to kindle collaboration between entrepreneurs, potential investors, decision makers, local business community, and senior state government officials to discuss investment opportunities in Haryana's thriving business environment. Uber's MoU with the Haryana Government involves investment in the field of technology based ridesharing services including peer-to-peer transportation using private vehicles where the driver is reasonably compensated for expenses, tolls and other related costs. This should help reduce the urgent need for owning a car as it offers a reliable and viable urban mobility alternative. Uber will invest a sum of Rs 120 crore in Haryana and will help the state government in its endeavor of creating smarter cities.

On the occasion of Uber signing the MoU, Shri Vijayendra Kumar, IT Secretary of the Government of Haryana, said," We are pleased to partner with Uber in Haryana, as they commit to economic development of the State. Haryana has been a leader in promoting Information Technology and we are excited to launch private vehicle ridesharing to promote urban mobility, prevent pollution and reduce the time spent in traffic in our cities."

Uber's GM for North India, Gagan Bhatia, also commented on the occasion -" We are excited to partner with the Government of Haryana and invest in ridesharing technology to promote efficient, eco-friendly and smart transportation in the state and the NCR region."

Also Read: Google's Self-Driving Taxi Service to Rival Uber