US-based ride hailing service, Uber, plans to invest Rs 99 crore in Karnataka, seeking concessions from the state government under the Information Technology Act. While the government has cleared the project, it has asked Uber to comply with state rules, including the soon-to-be-announced app-based taxi aggregator law.
Uber’s investment in the state will be directed towards expansion of its service and setting up of its first development center in the country at Bengaluru. It has sought concessions in the form of “on-demand taxi aggregator regulations”, “ridesharing pilot and regulations” and “concessions on water and electricity”.
