Aziz Ansari said after Season 2 was released on Netflix that he would not do a third season until (or unless) he had enough new and different life experiences to inform a full season's worth of stories.
Aziz Ansari has said that he will not do a 3rd season (or more) of the show until he has had some different types of "life experience" that would inform future editions of the series. Netflix has said they would welcome doing a 3rd season of the show when and if Ansari is ready to make one.