Will FedEx Grow an Indian Supply Chain Titan?
July 23, 2021 • 1 minute read
On July 16th, FedEx Express Corp. concluded negotiations with Delhivery to further develop Indian’s international trade. The long-term equity and commercial agreements with the Indian logistics company will have FedEx infusing $100 million USD into Delhivery as well as collaborating to split the Indian markets. FedEx will provide and develop India’s international export and import services while Delhivery will work with FedEx to sell the products and services in the Indian market. Additionally, FedEx agreed to transfer certain domestic assets in India to better help Delhivery provide pickup and delivery services throughout India.
– Raj Subramaniam“This strategic alliance will support our long-term vision to grow our India business and serve customers seeking to expand in or enter the Indian market, as well as provide opportunities to develop product and technology solutions together with Delhivery for the benefit of our customers” FedEx Corp. President Raj Subramaniam said. “We are excited to partner with FedEx and look forward to the synergies created between Delhivery’s capabilities in India and FedEx’s global network. Our aim is to bring new products and opportunities to Indian and global businesses and consumers through unique access to our networks, and our technology and engineering capabilities,” Delhivery co-founder and CEO Sahil Barua said.Source: Link
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