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Tech-based car service firm Uber, which is facing some tough questions on issues related to security, will invest $50 million in India in the next five years. Besides setting up a facility here that would house ‘hundreds of new employees’, the firm would create training a platform to train women and the youth belonging to the marginal sections.
The firm signed an agreement with the Telangana Government here on Monday to create skilled workforce, encourage entrepreneurship and support research in smart city initiatives.
“We will line up the investments in the next five years. But we have not firmed up any plans on the specifics,” Siddharth Shanker, General Manager of Uber in Hyderabad has said.
Addressing reporters on the sidelines of an event where the firm signed the memorandum of agreement, he said the firm would work with TASK (Telangana Academy for Skills and Knowledge) to identify and train over 2,000 youth by 2016 who will drive on the Uber platform,” he said.
The firm said its Vehicle Finance and technology platforms would facilitate first-time vehicle ownership for candidates picked from the TASK programme.
Start-up hub
Siddharth said the firm would also work with the State government in the T-Hub programme to foster smart city initiatives and technology innovation in the city using big data analytics.
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