Uber

The company had said that more than 27 corporate partners -- including Visa, Mastercard and companies like Uber -- had pledged to support the project.

On Tuesday, Finance Minister Nirmala Sitharaman had stated that the mindsets of millennial were adversely affecting the automobile industry as they prefer to use radio taxi services instead of buying own vehicle.

The slowdown in auto sales also stems from a severe liquidity crunch in the non-banking financial sector which has dried up lines of credit to both auto dealers and potential car buyers.

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