FedEx Express sets up tech hub in Hyderabad, invests $100 mn in facility

FedEx Express, an arm of New York Stock Exchange-listed, global express transportation firm FedEx Corp, on Tuesday inaugurated its first tech hub in India at Hyderabad, set up at an investment of USD 100 million.

Envisioned as a hub for technological and digital innovation, the facility is aligned with the Telangana government's strategic emphasis on nurturing a thriving pool of tech talent, the company said in a statement.

In addition to boosting employment opportunities, it will also contribute to the development of new capabilities and meeting the technological requirements of FedEx operations worldwide, it said.

Marking a significant investment of USD 100 million in Hyderabad's economic landscape, FedEx Express inaugurated its first Advanced Capability Community (ACC) in Hyderabad on Tuesday, the company said in the statement.

This investment in talent and innovation is part of our broader plan to drive excellence and deliver unparalleled smart logistics solutions worldwide, said Raj Subramaniam, President and CEO of FedEx Corporation.

The facility becomes a pivotal step in the company's global strategy, initiating a network of such communities worldwide, the company said.