Fedex committed to make significant investments in India: COO

CHENNAI: India is one of the top three fast-growing markets for Fedex, Richard W Smith, chief operating officer of International and CEO of Airline, said. Speaking to reporters here, Smith said Indian operations grew 40% last year on a yearly basis and are accelerating fast, expected to double in three years. “India is growing very fast. (As) the age of globalisation gives way to regionalisation, a lot of supply chain shifting. We are seeing India as a big beneficiary of that. We are making significant investments in this market in building capacity,” he said. He said the company is exploring setting up an air hub to help Indian cities connect faster to international markets and also serve as a sub-regional hub for other markets. Smith expressed a positive outlook on the incoming Trump administration’s trade policies, adding that they are prepared to navigate potential disruption to supply chains. “We are making significant investments in markets like India, Mexico and Vietnam, big beneficiaries of the geopolitical tensions between the west and China. (When the) trade winds shift and customers diversify the supply chain, we are there to support their growth,” he said. Kami Viswanathan, president of the Middle East, India and Africa, said global businesses are expressing interest in setting up manufacturing and export operations, particularly South India with pharma, auto, electronics and aviation driving growth. FedEx announced that it would be principal sponsor and the official logistics partner for Chennai Super Kings (CSK) in India and Johannesburg Super Kings (JSK) in South Africa. Viswanathan said it would be a three-year partnership with Super Kings, and it gives the opportunity to work in two of its big markets- India and South Africa. As part of the partnership, the company's logo will be featured prominently in the back of the team’s jersey.