The Foreign Investment Promotion Board (FIPB) has allowed Dutch major DHL Worldwide Express BV to convert its Indian operations into a wholly-owned subsidiary, despite strong opposition from the Department of Posts.
However, it has imposed a condition on the Dutch company, as per which the sale proceeds of the 53,000 shares held by an NRI will have to be remitted to an NRO (Non-Resident Ordinary) account in India.
Read MoreFedEx may increase the number of flights from India since the existing scale of operation is reaching capacity.
Federal Express Corp (FedEx), the world’s leading express delivery company, is happy with the way the export cargo business is growing and felt no need to immediately enter the domestic cargo market in India.
Read MoreFederal Express Corp (FedEx) has announced its technology strategy for India. This includes introduction of technology solutions like the FedEx InSight and FedEx Global Trade Manager in the country. It has also deployed hundreds of handheld pocket computers with the FedEx couriers. Addressing the media FedEx India managing director Jacques Creeten said, “We have introduced a couple of hundred of handhelds in India. There are similar experiments in West Asia and Europe, but on a smaller scale.”
Read MoreBlue Dart Express Ltd (BDEL), a courier company, has a share of 38 percent in the domestic market. In 2002-2003, it recorded 10 percent growth in revenues and 39 percent increase in net profit. After ending its alliance with FedEx, it has tied up with DHL Worldwide Express for its international operations. The company has 3 owned aircraft and has received permission from the Government of India for adding 2 aircraft to its fleet.
Read MoreThe traditional postman in India is now going to have a new job profile with the introduction of a fresh high-tech service product “e-post” by the department of post. Under e-post, handwritten letters, typed and printed documents, photographs etc are copied by post office computer with the help of scanner and then sent by e-mail to concerned post offices in India and abroad.
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