Ride-hailing giant Uber has dismissed claims that it is looking to sell its India unit, TechCrunch reported.
The development comes after Uber reportedly halted sale talks as tech valuations were battered by a global market rout. The US-based company had considered leaving India supposedly because of the limited potential for profitable expansion in the country.
However, an Uber spokesperson told TechCrunch that reports of an India exit were “categorically false.”
“We have never explored exiting India – not even for a minute. India is as important to Uber today as it was when we launched nine years ago,” the spokesperson added.
The San Francisco-based company said it is hiring “aggressively” in India and has plans for the next decade and beyond.
Uber, which competes with local ride-sharing company Ola, has been struggling to make profits in India, where high driver attrition has been pressuring margins.
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Editing by Miguel Cordon and Joy Tirkey
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