New Delhi: FedEx Express India, a subsidiary of the world’s largest express transportation company, and Delhivery Major Logistics India has signed equity and commercial agreements to “utilize their combined strength to open the potential of Indian international trade.” Fedex will invest $ 100 million in Delhivery and the company will enter a long-term commercial agreement.
Fedex Express will focus on international export and import services to and from India, and Delhivery will, besides Fedex, sell FedEx Express products and international services on the Indian market and provide pick-up services and shipping throughout India.
Fedex will transfer certain assets related to domestic business in India to Delhivery.
“India is a strategic priority for Fedex.
This strategic alliance will support our long-term vision to grow our Indian business and serve customers who are trying to expand or enter the Indian market, and provide opportunities to develop solutions to product and technology together with our customers” Raj Subramaniam, President and COO Corp.
Fedex.
Sahil Barua, Delhivery Co-Founder and CEO, said, “We love to partner with Fedex and look forward to the synergy made between the ability of Delhivery in the Global Network India and Fedex.
Our aim is to bring new products and opportunities to Indian and Global businesses through Unique access to our network, and our technology and technical skills.
“Don Colleran, President and CEO FedEx Express, will be nominated to join the Delhivery Board of Directors.
“This transaction combines the FedEx global network with PAN-India solutions and extensive Delhivery technology to bring the best from both worlds together.
Commercial investment and agreement between the two companies deepened Fedex’s commitment to the Indian market, and signal important steps in providing services and innovative solutions Which aims to increase speed, efficiency, and access to Fedex and Delhiver customers, “Fedex said,” Fedex said, “a statement.