In what could be a big blow to online bus ticketing services like redBus, the Indian government is launching an integrated national transport portal with a private partner.
The portal, Busindia.com has been around for a while but the central government has just sent out an invite saying that the Union Minister for Road Transport & Highways, Oscar Fernandes will launch “India’s first integrated national portal,” tomorrow. Busindia has already started sporting a tagline which says “Supported by Government of India.”
Busindia.com is planning to raise over Rs 200 cr from private equity funds, it was reported earlier.
redBus has a large market share in the online private bus booking space. However, most of the state and central transport departments work with different service providers or run their own portal.
Radiant Info, a service provider is the parent company of Busindia and runs the online booking service for Karnataka State Road Transport Corporation. The company claims that it is bigger than redBus, which was sold to Naspers for Rs 800 cr. busIndia sells nearly 50,000 tickets daily and is clocking revenues of Rs 100 cr while parent company Radiant Info, with over 1000 employees, has a revenue of Rs 400 cr.