FedEx, UPS, DHL Face New India Antitrust Cross-Examination

Top executives from FedEx, UPS, DHL, Aramex, and DTDC in India will face cross-examination in an ongoing antitrust investigation after a complaint by the Federation of Indian Publishers. The publishers accused the courier companies of price collusion and failing to lower fuel surcharges despite falling jet fuel prices. Last year, the Competition Commission of India found no evidence of collusion, but the publishers successfully argued that they should be allowed to question the executives directly.

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This decision is unusual in India’s antitrust cases and could change the investigation’s conclusions. The cross-examinations will be overseen by the CCI investigations unit, and their findings will be reviewed by top antitrust officials. Industry lawyers say such proceedings could reveal new facts and potentially alter the course of the case. The Indian courier market, projected to grow 11 percent annually to $14.3 billion by 2030 due to e-commerce demand, is attracting significant attention from both domestic and foreign companies. The development comes amid a global history of price-fixing concerns, including a $735 million fine in France in 2015 against several courier firms for collusion.

The new phase of the investigation allows the complainant, the Federation of Indian Publishers, to point out inconsistencies in earlier executive statements that investigators allegedly ignored. According to a CCI internal order from May 28, the publishers demonstrated sufficient cause for why such questioning was necessary. Executives to be questioned include leaders from all five companies named, with none responding publicly to Reuters’ requests for comment. DHL stated it complies with all laws and is cooperating with the CCI, while the other companies remained silent.

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The 202-page CCI investigation report, shared privately with the companies last year, revealed that 36 notices were sent to 15 courier firms, with UPS responding the most times. The report concluded there was no email or documented proof of coordinated action between the courier firms. However, the new cross-examination could reopen that conclusion. Industry experts say the rare move highlights the seriousness of the publishers’ allegations and may lead to prolonged legal proceedings. For the logistics sector, this renewed scrutiny is an unwelcome development at a time when market growth is strong and competition is intensifying, especially from the e-commerce boom that has boosted demand for fast and reliable delivery services across India.