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Uber Takes to the Waters: Launches Boat-Hailing Service on Kashmir’s Dal Lake!

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Uber Takes to the Waters: Launches Boat-Hailing Service on Kashmir's Dal Lake

Uber, the global ride-hailing giant, has expanded its services to the serene waters of Dal Lake in Kashmir by introducing a boat-hailing service. This innovative offering allows users to book traditional Shikara boat rides through its app, marking a significant step in diversifying Uber’s transportation options in India.

How It Works

Booking Process

  • Advance Bookings: Users can book Shikara rides 12 hours to 15 days in advance, providing flexibility for tourists planning their itineraries.
  • No Booking Fees: Uber will not charge any booking fees; the entire fare will go directly to the Shikara operator, ensuring that local businesses benefit from the service.
  • Seamless Experience: The service aims to provide a hassle-free experience for tourists, enabling them to plan their boat rides conveniently.

Mixed Reactions from Shikara Operators

The introduction of Uber’s boat-hailing service has elicited mixed reactions from local Shikara operators:

Positive Outlook

Some operators are optimistic about the potential benefits of Uber’s entry into the market. They believe that this service will boost their business by attracting more tourists and ensuring fixed, fair rates. Wali Mohammad Bhatt, president of the Shikara Owners Association, stated:

“It will boost our business. There will be fixed rates, no cheating, and no scope for bargaining.”

Skepticism

Conversely, other operators remain skeptical about the impact of Uber’s service. They argue that their established customer base and traditional booking methods will continue to prevail. Shabir Ahmed, a Shikara operator, expressed doubt:

“We have our own customer base.”

Kashmir’s Rising Tourism

Kashmir, often referred to as the “Switzerland of India,” has witnessed a gradual increase in tourism in recent years. Despite historical tensions and security challenges, the region’s natural beauty and cultural heritage continue to draw visitors from around the world.

Uber’s latest venture aligns with this trend by offering a modern twist on a traditional experience. The introduction of Uber Shikara not only enhances accessibility for tourists but also aims to uplift local tourism by integrating technology with cultural heritage.

The Broader Context of Uber’s Expansion

Uber has previously established its presence in Srinagar with cab services and now seeks to revolutionize how tourists experience boat rides on Dal Lake. This initiative reflects Uber’s strategy to diversify its offerings while tapping into unique local experiences that resonate with both domestic and international travelers.

Government Support

The launch has received positive feedback from local authorities. J&K Lieutenant Governor Manoj Sinha congratulated stakeholders in the tourism sector on this innovative move and praised Uber for blending technology with tradition.

Conclusion

Uber’s entry into the boat-hailing market on Dal Lake represents a significant innovation in how traditional services can be modernized through technology. While reactions among Shikara operators vary, the potential benefits for local tourism and economic growth are noteworthy. As Kashmir continues to recover and grow as a tourist destination, initiatives like Uber Shikara could play a crucial role in enhancing visitor experiences while supporting local businesses. The success of this venture may pave the way for similar integrations of technology within traditional industries across India.

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Piyush Anchliya Joins Cashfree Payments as CFO Amid Expansion in India’s Fintech Sector

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Cashfree Payments has appointed Piyush Anchliya as its new Chief Financial Officer (CFO), effective April 15, 2025. Anchliya brings over 15 years of experience in investment banking, corporate finance, strategy, and mergers and acquisitions, with senior roles at Barclays, Bandhan Group, and most recently as CFO of Bandhan AMC. He holds an MBA from IIM Ahmedabad and a B.Tech. from IIT Kharagpur.

In his new role, Anchliya will lead Cashfree’s financial strategy, optimize operations, and support the company’s next growth phase. He will report to CEO and Co-founder Akash Sinha, who highlighted Anchliya’s expertise as vital for sustainable scaling and strengthening the company’s financial foundation. Anchliya succeeds outgoing CFO Vikas Guru, who will assist during the transition.

Founded in 2015, Cashfree Payments processes over $80 billion annually for more than 800,000 businesses. The company recently raised $53 million in funding led by KRAFTON and Apis Growth Fund II and secured key RBI licenses, positioning it for accelerated growth in India’s fintech sector. Anchliya’s appointment comes at a pivotal time as Cashfree aims to expand its leadership in digital payments.

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Flipkart’s Jeyandran Venugopal Likely to Join Reliance Retail as CEO

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Jeyandran Venugopal, the outgoing Chief Product and Technology Officer of Flipkart, is set to become the CEO of Reliance Retail Ventures (RRV), the retail arm of Reliance Industries. His appointment, expected to be finalized in May after his exit from Flipkart, signals Reliance’s push to strengthen its retail business with a technology-first approach.

Venugopal brings extensive experience from leading roles at Flipkart, Myntra, Yahoo, Snapdeal, and Amazon, where he focused on scaling technology platforms and driving innovation. At Flipkart, he managed product, engineering, data science, and more, helping build robust systems and improve user experience.

His move comes as Reliance Retail undergoes transformation, including cost-cutting and a renewed focus on digital growth. Venugopal’s leadership is expected to accelerate Reliance’s ambitions in omnichannel and tech-driven retail, positioning the company for continued dominance in India’s evolving market.

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Delhivery’s Acquisition of Ecom Express: A Major Consolidation in Indian Logistics

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Delhivery, one of India’s leading logistics companies, has announced its acquisition of Ecom Express in an all-cash deal valued at ₹1,407 crore. This strategic move marks one of the largest consolidations in the logistics sector and is expected to enhance Delhivery’s scale, profitability, and operational efficiency.

Background

Ecom Express, founded in 2012 and headquartered in Gurugram, has faced significant financial challenges recently. The company canceled its IPO plans in 2024 and laid off hundreds of employees due to operational setbacks, including losing a major client, Meesho, which shifted to its in-house logistics service Valmo. These struggles led to a distressed sale, with private equity investors like Warburg Pincus and Partners Group exiting their stakes entirely.

Strategic Benefits for Delhivery

  1. Enhanced Scale: The acquisition will strengthen Delhivery’s network reach and infrastructure, enabling better service delivery across India.
  2. Operational Synergies: Combining operations with Ecom Express will improve efficiency and reduce costs through economies of scale.
  3. Competitive Edge: With Ecom Express as a subsidiary, Delhivery solidifies its leadership position in the logistics space by offering broader coverage and faster services.

Challenges Addressed

The acquisition mitigates risks from Ecom Express’ financial struggles while addressing past disputes between the two companies over inflated shipment volumes reported by Ecom Express during IPO filings.

Future Outlook

The deal is expected to close within six months after regulatory approval from the Competition Commission of India (CCI). Post-acquisition, Ecom Express will operate as a subsidiary of Delhivery, unlocking new growth opportunities such as advanced logistics technology integration and expanded customer reach.

With ₹5,488 crore in cash reserves as of September 2024, Delhivery is well-positioned to finance this acquisition without compromising financial stability. This move underscores Delhivery’s commitment to innovation and efficiency in India’s rapidly evolving logistics landscape.

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