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French firm enters India's parcel services sector
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SME Times News Bureau | 03 Jul, 2009
GeoPost, the express parcel arm of French postal service provider Groupe La Poste, and India's Continental Air Express Thursday announced a joint venture to offer domestic and international parcel services to Indian customers.
The Foreign Investment Promotion Board (FIPB) recently approved the joint venture, DPD Continental International, in which GeoPost will hold a 60-percent stake.
The new entity will offer services only in New Delhi and Mumbai initially.
"The second phase will see operations being rolled out across several major cities including Bangalore, Chennai and Kolkata by the end of this year," the company said in a statement.
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