How Bharat Taxi can turn your ₹500 investment into profits within three years? Amit Shah explains

Union Cooperation Minister Amit Shah on Monday explained how Bharat Taxi cab and auto drivers could turn their investments into profits by signing up on the platform and driving their vehicles.

Shah was speaking with cab and auto drivers from Delhi-NCR and Gujarat during the launch event of Bharat Taxi on 23 February.

“I asked all three companies whether they had set a minimum base rate for their drivers. They said no,” the Union minister told the group during the 40-minute interaction, referring to ride hailing companies Uber, Ola and Rapido.

“We will not do this. Whatever business you do, your minimum should be fixed. And whatever is more than that has to come back to you,” he added.

Amit Shah also shared that by just investing ₹500, cab and auto drivers can become co-owners of Bharat Taxi, earning profits as the company earns money.

Here is how to earn profits from Bharat Taxi by investing ₹500, as explained by Union Cooperation Minister Amit Shah.

How to earn Bharat Taxi profits by investing ₹500?

During his interaction, Amit Shah explained how a mere ₹500 investment to sign up for Bharat Taxi would yield profits for cab and auto drivers in a few years.

He said that if the company makes ₹25 crore in profits after three years, the government will keep ₹5 crore and distribute the rest ₹20 crore to driver partners based on their performance.

“You only need to invest ₹500. What will happen after three years? Suppose Bharat Taxi earns ₹25 crore, then 20% of this ₹25 crore, that is ₹5 crore, will be deposited in Bharat Taxi's account as your capital, and 80% will be deposited back in your account based on how many kilometres the taxi has driven,” he said.

Shah further said that while it will be a fixed rent for the time being, being an owner would fetch profits for drivers from Bharat Taxi. He urged drivers to wait for three years for the money to come in.

“Right now, you are going to get the fixed rent. But you are the owner, so you should have a share in the profit as well. So this share is going to come, but you will have to be patient for the first three years.”

Bharat Taxi will guarantee this

Amit Shah further said that the newly launched cooperative cab service Bharat Taxi will guarantee a minimum base rate per kilometre for all drivers on its platform.

He asserted that existing ride-hailing aggregators had deliberately avoided setting such a floor to maximise corporate profits at the expense of workers.

"The concept is that the one who is working hard, the one who is toiling, should get the profit, not some rich man. Why did we come up with the idea of Bharat Taxi? You said that there were a lot of complaints, 30% was deducted, and there was no certainty," Amit Shah said.

The Bharat Taxi platform operates on a cooperative model, where drivers are stakeholders and beneficiaries of the profits generated, unlike conventional ride-hailing services, where a significant commission is deducted by the platform.