DHL Express India has introduced a Currency Effects Index (CFX) effective August 1, 2026, to address currency volatility concerns. According to Business Standard, the company typically assumes a 2-3% annual rupee depreciation against the euro or dollar but factors this into pricing. However, depreciation beyond this level creates operational gaps that the new index aims to address. The rupee has depreciated 4.65% since the start of the West Asia war in late February and fell 8.2% against the dollar in the last year, though it has been stable in August. As R S Subramanian, senior vice-president–South Asia, DHL Express, explained, the weakening rupee is a risk to cover for DHL Express more than for businesses that operate on short-term contracts. The CFX operates similar to a fuel surcharge, applying when the rupee depreciates beyond a specified threshold and automatically falling to zero when the rupee moves below the threshold.
DHL Express India's performance significantly outpaces global results, with the company growing at approximately 1.5 times the country's GDP and typically achieving a compound annual growth rate (CAGR) 1-2 percentage points above this benchmark over five to 10 years. As reported by Business Standard, the company's one billion euro investment programme announced last year remains on track despite global volatility, covering all DHL businesses in India from 2025 to 2030. The programme has already resulted in expanded airside presence in Delhi, an expanded facility near Bengaluru airport, and two new service centres, with longer-term plans in Bengaluru, Mumbai and Delhi. Subramanian emphasized that "the idea of stopping investments is off the table," with actual investments potentially higher by 2030 than the announced €1 billion.
DHL Express India has expanded its IT development centres from one location in Chennai to five centres across Mumbai, Bengaluru, Hyderabad and Indore, handling software development and maintenance for DHL's global systems. According to Business Standard, the Heavyweight Express service launched in 2026 has been the company's most important move, addressing heavier shipments requiring faster delivery due to supply-chain disruptions. Subramanian noted that globally, heavyweight is one of the big drivers of growth, and in India, it has given a bump-up to normal growth this year, helping DHL increase its share of wallet with existing customers and address new emergency requirements. The company is also focusing on network optimisation and technology-led automation, including robotic process automation and artificial intelligence experimentation.
DHL Group reported strong quarterly results with revenue increasing 13% year-on-year to 22.4 billion euros and operating profit rising 30% to 1.9 billion euros in the quarter ended June 2026. As reported by Business Standard, India is being discussed in "very positive terms" globally, with investment focus on engineering and manufacturing, automobiles, electric vehicles, new energy, and data centres. Subramanian confirmed that "there is no customer, local or global, with whom we interact that does not have a four-to-eight-year expansion roadmap in India." The company expects India to remain a key growth market over the next decade, with DHL seeing four to eight-year expansion roadmaps from both local and global customers in India, as capacity is being created rapidly, particularly in engineering and manufacturing sectors.
