Ola Cabs is my 'pehla pyaar': Ola CEO Bhavish Aggarwal explains the group's grand vision

At Business Today's 'India at 100' event, Ola CEO Bhavish Aggarwal opened up about his journey with the company and laid out the ambitious plans for its future. In his session with Sourav Majumdar, Business Today Editor and Aayush Ailawadi, Technology Editor, Business Today, he fondly referred to Ola Cabs as his "pehla pyaar" (first love), reflecting on how the company has grown from a ride-hailing service into a diverse group with multiple ventures including the Ola Consumer (formerly Ola Cabs), Ola Electric and Krutrim AI. 

When asked about how his venture will synergise with each other, Aggarwal emphasised that Ola is no longer just a ride-hailing service but a group of companies, each with its own vision. While his emotional attachment to Ola Cabs remains strong, he explained that the natural progression of the business led to the creation of new ventures like Ola Electric, which aims to position India as a global leader in the electric vehicle (EV) industry.

Weight of responsibility in the public market
Now that Ola is in the public market, Aggarwal acknowledged the increased scrutiny and responsibility that comes with it. "We are handling India’s common man’s money," he noted, stressing the importance of being extra cautious and making decisions that will deliver long-term value. He expressed that this shift has made him more aware of the need to balance immediate performance with long-term strategic bets.

Building India’s global powerhouse
Aggarwal outlined his vision for Ola Electric, positioning it as a company that caters to the broader global market, in contrast to companies like Tesla, which he believes are focused on serving the wealthy in the West. "Tesla builds for 1 billion rich people." Aggarwal claimed Ola Electric is building for the rest, reiterating his commitment to making India a global powerhouse in the EV sector.

Venturing into AI with Krutrim
Expanding beyond electric vehicles, Aggarwal spoke about Ola’s new venture, Krutrim, which is focused on building a cutting-edge AI tech stack in India. He highlighted the massive opportunity within the $30 trillion global tech industry but also pointed out the risks of data colonialism. "We generate 20 per cent of the world’s data, but only 10 per cent remains in India," he said, warning against the current trend of exporting raw data only to buy back processed insights, likening it to the colonial exploitation of India’s resources.