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FedEx Delivered Over $80 Billion in Direct Impact to the Global Economy in FY 2023

~Report created in consultation with Dun & Bradstreet

~Investments in infrastructure, sustainability, and innovation strengthen network in India

FedEx Express began operations in 1984 in India, and the country has played a critical role in enabling connectivity to and from the Asia Pacific, Middle East, and Africa (AMEA) region. The study found that with its extensive network, FedEx Express contributed 0.3% of net economic output in the Transportation, Storage, and Communications sector[3] in AMEA, including India, during FY 2023. Across all sectors of the AMEA economy, FedEx Express contributed 0.02% of total net economic output, which grew approximately 6% in FY 2023 to $44 trillion.

Kami Viswanathan, President of FedEx Express Middle East, Indian subcontinent, and Africa, said: “With the world’s most extensive transportation network, we are dedicated to delivering value through smarter and sustainable solutions that drive global economic transformation. Our commitment extends to nurturing local talent and investing in advanced capabilities to drive innovation and foster growth in India. In doing so, we not only connect businesses across the globe but also contribute to the growth and development of the Indian economy.”

FedEx Express recently integrated more than 30 electric vehicles (EVs) into its Indian fleet, complementing enhancements to the company’s gateway based in the New Delhi Cargo Complex. The facility includes sustainable features such as solar energy and an advanced variable refrigerant volume cooling system that reduces electricity consumption by an estimated 15%.

Additionally, FedEx Express is committed to supporting India’s innovation economy. In March 2023, the company announced plans to open its first Advanced Capability Community (ACC) in Hyderabad. The FedEx ACC will be staffed by full-time employees to support the development of technological and digital innovations that enable FedEx to provide even greater value in the global supply chain ecosystem. The company also launched the FedEx Innovation Lab (FIL) in May 2023 to make investments in early-stage digital start-ups in India, as well as the wider region.