Ola and TaxiForSure share a ride
Car ownership in India is very low; according to the country’s 2011 census, passenger vehicle penetration is just 4.9% overall and a mere 9% for urban areas. For a country of 1.3 billion, suffering from poor public transport, it means the demand for taxis is extremely high.
However, the taxi market is highly fragmented. Riteshi Bangali, a partner with Helion Venture Partners estimates that only 3% of the market is organized with an average fleet size of only around five cars....
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