MUMBAI: Ride-sharing app Uber on Tuesday appointed Pradeep Parameshwaran as its new India and Asia head. The company's move is in line with its aim to double down on its investment in the country, as it looks to grab market share from home-grown rival Ola (ANI Technologies Pvt Ltd).

Parameshwaran will replace Amit Jain, who has been tasked with heading Uber’s entire Asia Pacific business, including countries such as Australia, New Zealand and North Asia. Jain’s appointment was part of the broader strategy that indicated Uber’s intentions to grab the market as Ola has taken in Australia, which also recently launched its service n that country. 

Earlier in an Interview with Livemint, Uber's chief operating officer Barney Harford said, “The company was considering both internal and external candidates for the role of India head.  Uber would continue to invest heavily in India, the ride-hailing company’s most important market outside the US, for an indefinite period rather than focus on cutting the company’s massive losses in India” 

Commenting on his new role, Pradeep Parmeashwaran said, “Uber is one of the most exciting, innovative and mission-driven companies in the world, and I’m thrilled to lead our business in this critical global market as we work to bring the benefits of ride-sharing to even more riders, drivers, and cities. After twenty years building businesses and leading through change across Asia and the US, I am excited to shape how the region moves over the next twenty”

Prior to joining  Uber, Parmeshwaran was working with Den Network Limited as CEO. He brings with him 20 years of experience, having worked in the US, Asia Pacific and Africa. He has also been associated with companies across the technology value chain including Internet companies, telecom service providers, ISPs, cable/DTH providers, handset manufacturers, network OEMs, IT service providers, software companies and fiber players on multiple functions including strategy, business building, sales acceleration, operations, organization and finance. 

Parameswaran’s appointment comes at a time when Uber is engaged in market share battles in the Asia Pacific region against local rivals such as Ola, which is backed by Japan’s SoftBank Group Corp, a common investor in both taxi start-ups. 

Rumours of a potential Ola-Uber merger in India have been doing the rounds for the past few months, but both companies have repeatedly denied any such reports.