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Uber Technologies will make a huge investment of $1 billion in India in the coming nine months to reach 1 million daily rides by March 2016. The additional investment would aid in improving operations, expanding into newer cities and developing new payment solutions and products, reported Financial Times.

President of Uber India, Amit Jain said, "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.”

The Business Standard has quoted Jain as saying in a report that, "We're committing an additional $1 billion to India in the next six to nine months, so that we can expand and improve our operations, grow into newer cities, develop new products as well as payment solutions, and establish a great support network.”

Earlier this month, a Delhi court canceled a government ban on Uber, clearing the way for the company to operate in the capital city of India and reapply for a license. Unregistered, web-based taxi services were asked to halt in December following an incident where a person accused of rape is a driver contracted with Uber. The company continued its services while the license approvals in New Delhi were pending.

Priority markets for Uber

India and China are labelled by the company as priority markets. Last month, Uber announced over $1 billion in China. Operating in 57 countries with  an anticipated value of over $40 billion, Uber tied with transportation authorities world wide.  

-Sumana