Bharat Cooperative Taxi Service Set to Launch with 200 Drivers, Rs 300 Crore Capital

India's cooperative sector is launching a taxi service called Bharat, backed by Rs 300 crore and having onboarded 200 drivers across four states. The cooperative represents a consortium of eight prominent cooperatives, including NCDC, IFFCO, and GCMMF. The service aims to provide better returns to drivers and affordable services to passengers, with a focus on quality and safety. The cooperative has floated a tender to select a technology partner for developing the ride-hailing application.

India's cooperative sector is set to make waves in the ride-hailing market with the launch of 'Bharat' taxi service by the end of this year. Backed by Rs 300 crore authorized capital, the service has already onboarded 200 drivers across Delhi, Gujarat, Uttar Pradesh, and Maharashtra. The initiative, spearheaded by the Multi-State Sahakari Taxi Cooperative Ltd, represents a consortium of eight prominent cooperatives, including the National Cooperative Development Corporation (NCDC), Indian Farmers Fertilizer Cooperative Ltd (IFFCO), and Gujarat Cooperative Milk Marketing Federation (GCMMF) [1].

The cooperative sector aims to leverage its collective strength to compete with established private players like Ola and Uber. The key objective is to ensure better returns for drivers and provide quality, safe, and affordable services to passengers [1]. The venture is entirely funded by the participating cooperatives and operates without any government stake. Other founding members include Krishak Bharati Cooperative Ltd, National Bank for Agriculture and Rural Development (NABARD), National Dairy Development Board (NDDB), and National Cooperative Exports Ltd (NCEL) [1].

The cooperative has floated a tender to select a technology partner for developing the ride-hailing application. The app is expected to be ready by December, with a technology consultant and IIM-Bangalore roped in to formulate the marketing strategy for the pan-India platform [1]. The service will adopt a cooperative pricing model, with membership drives currently underway to scale operations.

This move comes as the cooperative sector seeks to tap into the rapidly growing ride-hailing market. By providing a platform that prioritizes driver benefits and passenger safety, Bharat aims to carve out a niche in the competitive market.

References:
[1] https://money.rediff.com/news/market/bharat-taxi-8-cooperatives-launch-ride-hailing-service/31334620250803
[2] https://www.thehansindia.com/news/national/eight-cooperatives-join-hands-to-launch-bharat-taxi-service-onboard-200-drivers-993647