new delhi admitting predatory pricing is detrimental to the industry ridehailing service ola today said it reacts to competition to ensure there is no monopoly in the indian market there have been allegations that aggregators like uber and ola indulge in predatory pricing as they are backed by investor money these appbased companies offer rides at fractional costs compared to that of fleet cab operators like meru in its totality predatory pricing is detrimental to the industry in the long run this will not benefit anyone and it never has in the past being an aggregator we have to react to competition we live in a competitive market ola chief operating officer pranay jivrajka told he further said we dont want the indian market to be ruled by monopoly and as an indian company we will do everything to protect it olas deeppocketed us rival uber which sold off its china business in august is now pumping in investments and focussing on ramping up its presence in the indian market india is already the second largest market for uber in terms of number of rides taken by people earlier this month the association of radio taxi shared its recommendations with a delhi high courtconstituted committee pushing for restriction on predatory pricing and encouraging a healthy ecosystem through a predesigned fare structure that enforces pay parity interestingly in september the competition commission had dismissed allegations that ola had abused its dominant position in the national capital driving out existing players as the fare charged by it was abysmally low jivrajka said ola has working on adding autorickshaws and blackyellow taxis on its platform as part of its inclusive approach towards sustainable growth this is in the interest of the ecosystem and we are receptive to any ideas that protect drivers and customers interest predatory pricing is detrimental to the industry and we all have to figure out how to prevent that once we come up with a solution and that will be true for everyone he added asked if a cash crunch is forcing ola to take a stand jivrajka answered in the negative we are well capitalised enough money is in the bank what we are talking about here is long term in the interest of the ecosystem he added sr anz mkj