Uber is reportedly close to making a tactical exit from India’s food delivery industry

Uber  has said adamantly that it won’t exit India (or any more markets) following a hat-trick of retreats from ChinaRussia and Southeast Asia, but does that include its food delivery business?

The answer could well be yes. If media reports are right, Uber is on the cusp of a tactical exit from India’s food delivery industry.

India’s Economic Times is reporting that Uber is in the final stages of a deal that would see Swiggy, the food delivery service that recently raised $1 billion and expanded to general deliveries, eat up Uber Eats in India in exchange for giving the U.S. ride-hailing firm a 10 percent share of its business. Swiggy was most recently said to be valued at $3.3 billion following that billion-dollar round, which was led by Naspers and included new backers Tencent and Uber investor Coatue.


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