FedEx expanding India operations
Federal Express Services is looking to expand its operations in India as it and other shippers battle tough global economic conditions.
The company said it is looking at double-digit annual growth in India, as its business in the country has not been impacted much by the worldwide economic slowdown.
"India is a strategic market for us, and we are looking at a double-digit growth year-on-year," Federal Ex Services SVP for International Marketing Rajesh Subramaniam said at the World Economic Forum's India edition this week.
During the past three years, the company has more than tripled the number of frequencies in India and has more than 3,000 employees in the subcontinent, he added.
The company has recently started a hub facility in Delhi and has teamed up with local partners to expand its India business, he said.
FedEx's non-US business accounts for around 40% of its total annual revenue.
Subramaniam did not disclose any figures regarding its revenue expectation from India.