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January 25, 2015 at 10:36 am #2976Dushyant BhedaParticipant
Well said Paresh. I would like to add few points. Uber was founded by Travis Kalanick and Garrett Camp. Travis Kalanick is an innovator and has been trapped in controversies before too and had to file for bankruptcy. Besides safety issue, Uber is also disrupting the existing Taxi business in many countries including India. It has been facing protest from the Indian Taxi union. Uber has also violated the two step authentication system for e-commerce credit card payment systems according to RBI governor Raghuram Rajan.
On the other hand, Uber is easy to use app and providing handsome amount of salary to its drivers. Disruptive innovations are meant to shut the old business. They are working on safety and legal aspects and likely to come with sustainable solution. Government has lifted its ban from Delhi, which is promising sign for Uber. I agree with Paresh that banning it permanently would be a harsh decision.January 18, 2015 at 12:38 am #2835Dushyant BhedaParticipantI don’t agree with the word never. India can be $20 tr economy, but it will take time. During our PM’s speech at economic times at GBS, he asked the same question. If we look at the global outlook, world bank has estimated that India will surpass the growth rate of China in 2017 and in 2015. Inflation has been within limit for several consecutive months and GDP has been better than expected. Recent IIP data backs the growth in production. New government’s initiatives are promising. If the state election’s trend continues, NDA will have majority in upper house and then government will be able to have some reforms and don’t have to follow ordinance route. In forthcoming budget, we may come across many radical changes. RBI’s recent rate cut by 25 base points supports government’s growth oriented attitude. We cant’t be developed country over night. It will take time and new reforms will also have effectiveness lag to spread across country. Though target is approximately 10folds the current GDP but it’s achievable in long – very long run.
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