It has also obtained a licence for Greater Manchester and hopes to operate nationwide by January.
It will be the first to offer both private hire vehicles and black cabs on its smartphone application.
While fares are expected to be similar to Uber’s, it promises drivers will earn more saying it would charge drivers lower commission starting at 10 per cent for minicabs and 5 per cent for metered taxis.
Ola, founded in 2011, competes with Uber in India and made its first foray in Australia in February.
Co-founder and chief executive Bhavish Aggarwal said: “Ola is excited to announce its plans for the UK, one of the world’s most evolved transportation markets.
“The UK is a fantastic place to do business and we look forward to providing a responsible, compelling, new service that can help the country meet its ever-demanding mobility needs.
“We look forward to our continued engagement with policymakers and regulators as we expand across the country and build a company embedded in the UK.”
Uber has not enjoyed a smooth ride since launching in the UK in 2012.
Transport for London ruled in September it was not “fit and proper” to hold a private hire vehicles operator licence amid safety concerns but it has since been awarded a 15-month probationary licence after making changes.
Ola said it “seeks to lead the industry with its approach to passenger safety including screened drivers and options to share ride details with emergency contacts”.
It boasted: “We are recognised for our collaborative approach, working with national governments and local authorities, to help solve transport mobility issues in innovative and meaningful ways.”