UPS increases investment in India
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.”