UPS in­creases in­vest­ment in In­dia

Cargo Talk - - International News -

UPS has at­tained full own­er­ship of its ex­press ser­vices unit in In­dia. The com­pany pre­vi­ously held a ma­jor­ity po­si­tion in an ex­press ser­vices joint ven­ture, which ex­clu­sively served UPS’s in­ter­na­tional ex­press small pack­age ship­ping busi­ness in the coun­try. UPS’s move to ob­tain full own­er­ship, along with planned net­work up­grades, demon­strates the com­pany’s com­mit­ment to in­vest strate­gi­cally in high-growth in­ter­na­tional mar­kets and coun­tries with ex­pand­ing economies such as In­dia. “The World Bank tells us that the global econ­omy will ex­pand by $6.5 tril­lion be­tween 2017 and 2019. In­dia will be the third-high­est growth coun­try with its GDP ex­pected to ac­count for 8.6 per cent of this ex­pan­sion. In re­cent years, In­dia has emerged as a key player in the ship­ping and lo­gis­tics sec­tor, and UPS is poised to play a lead­ing role in sup­port­ing in­ter­na­tional trade and sup­ply chain-re­lated needs,” said Rami Suleiman, Pres­i­dent for In­dian sub­con­ti­nent, Mid­dle East and Africa (ISMEA), UPS.

Adding to this, Rachid Fer­gati, Man­ag­ing Di­rec­tor, In­dian sub­con­ti­nent, UPS, said, “This in­vest­ment is a cat­a­lyst for growth and will sup­port fur­ther ex­pan­sions. With full own­er­ship, we con­sol­i­date our po­si­tion af­ter 30 years of ex­is­tence in In­dia. We are well-po­si­tioned at the in­ter­sec­tion of con­nec­tiv­ity, tech­nol­ogy, and ef­fi­ciency to help all busi­ness re­alise their growth po­ten­tial.”

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