Uber is betting big on the Indian ride-sharing market, really big

Uber will invest $1 billion in India in the next nine months as the online ride-hailing company is bullish on the Indian market. Uber said it would use the additional investment to improve operations, expand into newer cities, and develop new products and payment solutions. “Uber has grown exponentially in India, a global priority market for us, which has also quickly become the largest market geographically for Uber outside the U.S.,” Amit Jain, president of Uber India said in a statement. The news of Uber’s investment in India was first reported by the Financial Times, which said it was the first time the company had set such a target for India. Earlier this month, a Delhi court revoked a government ban on Uber, clearing the way for the company to operate in the capital city and reapply for a license. India asked unregistered Web-based taxi services to halt operations in December after a driver contracted with Uber was accused of rape. Uber applied for licenses in New Delhi but continued its operations while approvals were pending.