FedEx is collaborating with the US Commerce Department’s US Commercial Service on a trade missionto India in November 2008 for US-based businesses interested in expanding into the Indian
marketplace. FedEx is the first private-sector company to lead a trade mission to India inconjunction with the Commercial Service.With visits scheduled to New Delhi, Hyderabad and Mumbai from Nov. 9-14, 2008, the trademission will enable US businesses to better understand trade opportunities across key economic hubsin the country. In addition, it will help Indian companies looking to pursue new buyingopportunities with American businesses.
As part of the trade mission, participants will meet with potential Indian business partners,agents, distributors and buyers to discuss opportunities through business appointments arranged bythe US embassy’s Commercial Service. The companies participating in the trade missionrepresent small and medium-sized businesses and sectors in manufacturing, transportation equipment,engineering, business services, consulting, architecture, information technologies, pharmaceutical,consumer goods, and more.
From 2003-2007, US-India trade has increased by 130%, reaching more than $41 billion lastyear, and US exports to India have more than doubled since 2005, according to FedEx. Trade betweenthe two countries is up 21% through the first half of 2008 compared to the same time period lastyear. American companies see excellent opportunities in part due to India’s average annualgrowth rate of more than 7%, its fast-growing middle class of nearly 400 million consumers withgrowing purchasing power, and the country’s favourable impression of US products and services,FedEx commented.
“India is one of the best-performing economies in the world, and it is one of the topconsumers of US exports,” said Rajesh Subramaniam, senior vice president, International Marketing,FedEx Services. “By holding this trade mission, FedEx and the US Commercial Service will provide USand Indian businesses with valuable networking opportunities needed to grow their businesses andmaintain a competitive edge in the global marketplace.”
“India is a fast-growing market with enormous potential for increased sales of innovative USproducts and services, contributing to jobs and economic growth in both countries,” said IsraelHernandez, Commerce Assistant Secretary and Director General of the US and Foreign CommercialService. “This trade mission is an important step toward strengthening US-India business tiesand enhancing fair, two-way trade between both our countries.”
Jacques Creeten, vice president of India Operations, FedEx Express, commented: “We have asignificant presence in India. Now in our 11th year of direct operations in India, FedExoffers the largest number of international flights to and from India, as well as a dedicated groundnetwork connecting more than 4,000 cities and towns across the country.” FedEx offers US-Indiatransit times of three days, based on 10 weekly inbound flights, and India-US transit times of twodays, based on 11 weekly flights from Delhi and Mumbai.
