DHL will be joining the Rs 1,000 crore India – US merger, the company said on Wednesday.
The announcement came hours after Prime Minister Narendra Modi visited New Delhi to inaugurate a railway link between the two countries.
“We have been in discussions with DHL regarding joining the India-U.S. merger for a long time and have decided to do so,” DHL Chairman and CEO Jairam Ramesh said in a statement.
The US-based logistics company said the merger would enable it to offer faster and more efficient shipping services in India.
It would also bring its business across the border into the Indian market, the statement said.DHL had announced in September it was investing Rs 1.5 lakh crore in India and had planned to set up a logistics centre in Mumbai, adding that the new facility would be in partnership with Durga Kala Bhavan, an institution founded in the 1950s.
The logistics firm has also launched a Rs 10,000-crore logistics centre for its US operations in Delhi.