Ride-hailing firms Ola and Uber have welcomed the revised guidelines for the taxi industry saying these would allow the sector to "continue to flourish". The taxi aggregators, however expressed concerns on price caps and price floors. A committee set up by the Road Transport and Highways Ministry recently said India needed one regulatory framework for the taxi industry to promote mobility and discourage car ownership. It also said aggregators like Uber and Ola should also be a part of the "fair, uniform and transparent" regulatory framework along with radio taxis and traditional taxis. You may also like to watch this video: Amit Jain, President of Uber India described the revised guidelines as an important milestone in the development of ridesharing in India. "(This) will help the industry better serve riders, drivers and cities in the years ahead. While there are concerns on price caps and price floors, the framework will allow the industry to continue to flourish," he added. Pranay Jivrajka, the Chief Operating Officer at Ola, said the guidelines are progressive and forward looking for the ride sharing space."This is definitely a significant move in the interest of India's unique and growing mobility needs, which need to be addressed holistically," he added.