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FedEx Express, a subsidiary of NYSE-listed FedEx Corp, and Delhivery have entered into equity and commercial agreements that will utilise their combined strengths to unlock India’s international trade potential.As part of the collaboration, FedEx will make a $100 Mn equity investment in Delhivery, and the companies will enter into a long-term commercial agreement.
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FedEx Express will focus on international export and import services to and from India, and Delhivery will, in addition to FedEx, sell FedEx Express international products and services in the India market and provide pick-up and delivery services across India. FedEx will transfer certain assets pertaining to its domestic business in India to Delhivery.