6th May 2024, Kathmandu
Ride-hailing platform InDrive has transitioned from operating unofficially to registering itself as a formal industry following amendments to the Industrial Business Act, 076 by the government, recognizing ride-sharing as a service industry.
With a total investment of Rs 5 crore as foreign direct investment, InDrive has now entered the competitive ride-sharing business.
InDrive Registers in Nepal
A company representative confirmed that tax-related processes, including registration in PAN, have been completed, enabling them to commence collecting commissions from riders.
However, the official commission rate has yet to be disclosed. This move comes amidst concerns about the lack of legal clarity in ride-sharing operations, with some platforms charging commissions of up to 20 percent without clear legal provisions.
Industry officials emphasize the need for procedural and legal clarity in these matters to ensure fairness and transparency.
About inDrive:
inDrive originated from a grassroots movement in Yakutsk, Siberia, challenging unfair pricing by taxi companies. It has since grown into a global leader in ride-hailing, prioritizing transparency and fairness through its peer-to-peer model, allowing users to negotiate prices and routes.
Since its establishment in 2013, inDrive has expanded to over 749 cities across 46 countries, achieving unicorn status in 2021. Committed to social impact and community development, inDrive runs global non-profit programs.
Notably, as of July 2022, the company has divested its Russian operations, aligning its focus with markets that resonate with its values and mission.
For more details: InDrive Registers in Nepal
