Ola Chief Executive Bhavish Aggarwal met top Uber executives in San Francisco, United States, recently, the report said, citing two sources.
The report did not disclose financial details about a potential deal. Uber and Ola did not immediately respond to a Reuters request for comment.
The two companies have been slugging it out in an intensely competitive Indian market and have spent billions in incentives and discounts to passengers. More recently they have also launched newer services such as food and grocery delivery.