DHL to step up India investment, expand biz

Germany-based logistics company DHL Express plans a major expansion in India to take advantage of the growth and penetration of retail business in the country, by increasing its exclusive outlets and strengthening road network.
The company is set to open 1,000 retail points across the country by 2010, up from the 150 centres that currently offer its products. DHL, which owns an 81.03% stake in Mumbai-based air express and transportation company Blue Dart Express Ltd, will also start at least 100 transportation hubs to help link the company to smaller towns and non-metro cities and towns.
“We will make significant investments for opening retail points and strengthening ground transportation. With the help of Blue Dart, we should be able to connect across the country,” said Daniel J. McHugh, chief executive officer, DHL Express (Asia Pacific). He did not divulge details of the investment, but over the past four years, DHL has invested more than $300 million (Rs1,224 crore) in India including $163 million for the Blue Dart stake.
The Indian logistics market is expected to reach $122 billion by 2015 from $45 billion today, according to market estimates.
17/03/08 P.R. Sanjai/Livemint

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Categories: Cargo Mar 2008, Foreign Mar 2008