FedEx Express, the air and international unit of FedEx Corp. (NYSE:FDX), said Friday that it has made a $100 million equity investment in Indian transport and logistics firm Delhivery, and that the FedEx unit’s Indian operation will operate an integrated air-ground service with Delhivery in the country’s domestic and international markets.
Under the agreement, described by FedEx in a statement as “long-term” in duration, FedEx Express will offer international services to and from India. Delhivery and FedEx Express will provide pickup and delivery services across India, and the two will sell FedEx Express’ international portfolio in the Indian market, FedEx Express said.
FedEx will transfer some of its domestic Indian business to Dehlivery, FedEx said, without elaborating. Don Colleran, president and CEO of FedEx Express, will be nominated to join the Delhivery board of directors, FedEx Express said.
Memphis, Tennessee-based FedEx began serving India in 2002. Its Indian operation operates 38 weekly round-trip flights over three air gateways.
Delhivery, based in Delhi, was founded in 2011.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now