Indian express encounters postal delay
Global express and courier major TNT has pledged investment of Euro 100 million in India in the next five years. Blue Dart Express, in which DHL took a 68% stake in 2004, will induct two of the latest generation 757 aircraft into the Indian market in June taking its fleet size to 7. First Flight Couriers will also ramp up its fleet in June as part of a Rs 50 cr infusion. Even Anil Ambani controlled Reliance Capital recently acquired a 44% stake in the Rs 150 cr DTDC.
With such large investments in the pipeline, the Rs 4,000 cr express and courier industry is vociferous in its protest against a government move to yet again table the Indian Postal Act Amendment Bill which will allow the department of posts the authority to regulate the industry and also to reserve the business in the below 500 gms category for India Post only.
