Homegrown logistics and supply chain services company Delhivery on Friday announced that global giant FedEx will make a $100 million equity investment in the company to unlock India’s international trade potential.
FedEx Express, a subsidiary of FedEx Corp and Delhivery will enter into a long-term commercial agreement.
FedEx Express will focus on international export and import services to and from India, and Delhivery will, in addition to FedEx, sell FedEx Express international products and services in the India market and provide pick-up and delivery services across India.
FedEx will transfer certain assets pertaining to its domestic business in India to Delhivery, the companies said in a statement.