Access is our thought leadership platform where we will review and discuss new FedEx products, technologies, and processes. Additionally, some of the brightest minds at FedEx will share trends and provide their insights into how culture, people and policy are affecting the global marketplace.
Syndicate content

[VIDEO] Driving India's Growth

When the U.S.-India Business Council honored FedEx with a Global Leadership Award June 23 in Washington, the audience got to hear from two dynamic innovators – Fred Smith and  Chanda Kochhar, CEO of ICICI Bank, India’s largest private-sector bank.

FedEx and ICICI were cited for their business leadership and commitment to the people of India through their social responsibility and sustainability programs.

During the roundtable discussion, Smith and Kochhar made compelling points about doing business in India. 

“One of the most unique things about India is the spirit of entrepreneurship. Culture ends up being the driving force of so many things in human affairs,” Smith said.  “Inside India there is just this cauldron of entrepreneurial activity.  At the end of the day, innovation creates wealth.”

This dynamism helped India transition from an insular economy to a global one that currently ranks as one of the largest economies in the world.  Of course, when doing business in India, one has to consider the vast population of 1.2 billion and various affordability levels. Said Ms. Kochhar,  “You learn how to manage scale and how to manage affordable innovation.”

With a median age of only 26 years, India is  a young country that will become a major consumer and a contributor to the global workforce in the decades ahead.  Kochhar noted the diversity of her customer base - a range from the wealthiest in the world to those with an average bank balance of only two dollars!

As a result, Indian market is segmented from the highly sophisticated to extremely value conscious.  In my experience, I have seen firsthand how FedEx has helped connect small businesses in India to the global marketplace, vastly expanding one’s standard of living.

Five years ago, two-way trade with India was about $25 billion, and in 2010 the figure was over $72 billion.  For all the reasons above, FedEx continues to invest in India and looks forward to promising future. We believe in the Indian market.

Watch a video of Fred Smith accepting the award and participating in a panel discussion at the U.S.-India Business Council:

You are missing some Flash content that should appear here! Perhaps your browser cannot display it, or maybe it did not initialize correctly.

Comment (1) 

* Required fields

Very good conversation and insights...

All comments are moderated. Comments will appear as soon as they are approved by the moderator. We will not post comments if they are defamatory, spam, off-topic If you do submit a comment, you warrant that it is your own original work, that it is not defamatory or offensive and does not infringe any law.
* Required fields
  • You may embed videos from the following providers . Just add the video URL to your textarea in the place where you would like the video to appear, i.e. http://www.youtube.com/watch?v=pw0jmvdh.
  • You may use <swf file="song.mp3"> to display Flash files inline

Type the characters you see in this picture. (verify using audio)
Type the characters you see in the picture above; if you can't read them, submit the form and a new image will be generated. Not case sensitive.

About This Blogger

Rajesh writes about his daily experiences at the forefront of global trade.