Wednesday, June 7 2006 10:47 Hrs (IST) - World Time -

Paris: Buoyed by India's rapid economic growth, FedEx Express, world's largest express transportation company with an annual revenue of 32 billion dollars, plans to expand its network in India in a big way.

In addition, FedEx also wants the EU businesses to move quickly in the fast growing Indian market so that they remain competitive in the global market, Jacques Creeten, Managing Director, Sales and Marketing of the company told reporters here yesterday (June 6, 2006)night.

"We want to have a fair share of the cake in the Indian market," Mumbai-based Creeten told sources.

"FedEx which operates 17 of their flights to Mumbai and Delhi every week plan to double our business in India in the next 18 months," he said.

"We have more than a fair share of the market in Delhi and now we plan to concentrate on developing the market in South India where the potential is very vast," he said.

He said, "Almost all the Fortune 500 companies in India are doing business with FedEx."

FedEx Express, Creeten said, provided fast and reliabledelivery to more than 220 countries and territories.

"The company uses a global air-and-ground network to speed delivery of time-sensitive shipments, usually in one to two business days with the delivery time guaranteed," he said.

Both Creeten and Sanmit Ahuja, Director, Indian Programme of Commonwealth Business Council who was also present, calledfor EU business to do more to make the most of the fast expanding and profitable India market, or risk losing out.