Mumbai: DTDC Courier and Cargo Ltd, the package-delivery company in which Anil Ambani’s Reliance Group bought a 40% stake in 2006, said it has entered Australia and Kuwait.
The Australian venture will be handled jointly by DTDC and Fast World Express Pty Ltd, in which the Indian company owns 34%, DTDC said in a statement on Monday. The Kuwait venture will be handled by Kuwait Bayarek General Trading and Contracting Co. W.I.I., a master franchise.
“The main objective of the joint venture is to provide service to the Indian diaspora in Australia as well as provide delivery and distribution services for shipments from India whereas the master franchisee in Kuwait has strengthened DTDC’s presence all over the Middle East including GCC and MENA area,” said Abhishek Chakraborthy, executive director of DTDC.
GCC refers to the Gulf Co-operation Council that includes six West Asian countries, while MENA refers to Middle East and North Africa that includes both oil-rich economies in the region and countries that are resource-scarce in relation to population, such as Egypt, Morocco, and Yemen.
Last year, DTDC became the first Indian courier company to have acquired a company outside India with the purchase of a majority stake in Eurostar Express of the UAE, the statement said.
The Indian courier industry is valued at Rs.10,000 crore and is growing at around 25% a year, according to the website of courier lobby group Express Industry Council of India.