DTDC Express Sets Sights on 10x Growth

DTDC Express’s vision is to grow from Rs 2,500 crore to Rs 25,000 crore. Aneel Gambhir, CFO of the courier and logistics firm, says that the combination of rapid commerce, diversified BUs, and an empowered partner ecosystem positions the company well for 10x growth in a decade.

In an exclusive conversation with FE CFO, Gambhir opens up about navigating global disruptions, the company's big bet on rapid commerce, and how finance is evolving from gatekeeper to strategic enabler. From expansion plans to building resilience in an uncertain world, edited excerpts.

How is DTDC aligning with national logistics policies and infrastructure initiatives like PM Gati Shakti and the National Logistics Policy?

We are actively leveraging these government-led initiatives. Our focus is on improving operational efficiency and reducing network costs. DTDC has evolved from a homegrown enterprise into a multinational logistics company operating in over 220 countries. We have around 16,500 entrepreneurial channel partners across India, which gives us a unique edge. This scale and grassroots foundation allow us to align with the government’s larger vision for future-ready logistics.

DTDC's Chairman recently spoke about a vision to grow from Rs 2,500 crore to Rs 25,000 crore. What are your key growth drivers?

Yes, that's an ambitious but realistic goal. We're pursuing multiple initiatives. One of the key drivers is our entry into rapid commerce. This sits between traditional e-commerce and quick commerce. Not all products need to be delivered in 10–15 minutes; some are needed in a few hours. We have piloted four dark stores already and will officially launch two more soon in Mumbai and Kolkata. Rapid commerce will see aggressive expansion and contribute significantly to our top line in the next five years.

We're also scaling our BU (business unit) model and leveraging our 16,500-strong entrepreneur network—our DTDC assets—to grow faster. The combination of rapid commerce, diversified BUs, and an empowered partner ecosystem positions us well for 10x growth in a decade.

Where are you piloting rapid commerce, and what are the expansion plans?

Currently, we are focusing on tier 1 and tier 2 cities. After positive pilot results, we plan to expand to cities like Nagpur, Raipur, and Kanpur, based on demand signals. We are demand-driven. Investment numbers aren’t public yet, but we are confident this vertical will make a substantial impact on revenue over the next few years.

With global disruptions and protectionism on the rise, how is DTDC de-risking its supply chain?

Disruption management is the new normal. We don't rely on a single vendor anymore. We maintain alternative suppliers and test their readiness regularly. Yes, this has a working capital and profitability impact—you might pay a slight premium—but it's like an insurance policy. It ensures business continuity even during geopolitical or policy shocks.

We are also investing in digital transformation, cloud computing, and AI/ML tools to make our supply chain more agile and data-driven. These technologies help us forecast, plan better, and maintain cost efficiency even when disruptions hit.

What long-term changes have these disruptions triggered in DTDC’s logistics model?

Agility is now the core of our logistics strategy. There is no one-size-fits-all solution. Regulatory changes, customer preferences, and competitive dynamics are evolving rapidly. We are adopting multimodal logistics, streamlining operations, and strengthening digital capabilities to adapt in real time. The key is speed and flexibility.

What are DTDC’s global expansion plans for FY26–27?

We’re already active in the UK, US, Singapore, Canada, Malaysia, and Australia. In FY26 and FY27, we plan to strengthen our presence in these countries and expand into new markets like Kenya and parts of Europe. There’s strong demand from the Indian diaspora, and our brand holds emotional value for them.

You mentioned a focus on cross-border e-commerce and handicrafts. Can you elaborate?

Absolutely. India has over 700 registered GI-tagged handicraft products—like Pashmina shawls and Madhubani paintings. These lack a structured export mechanism. DTDC is working to become the logistics backbone for these products. We're creating channels to connect artisan clusters with global buyers, using our international network and digital tools.

We are also launching offerings around festival-based and emotional shipping—especially popular among NRIs during Rakhi, Diwali, and weddings. The plan is to bring India’s cultural and creative economy closer to its global audience.

What’s the consumer segment you’re targeting for this initiative?

We’re looking at two main audiences. First, Indian consumers abroad who seek authentic, handmade products from India. And second, global buyers interested in heritage crafts. We aim to build reliable, cost-efficient logistics pipelines—supported by digital tracking and warehousing—for artisans, small exporters, and marketplaces selling these products. It’s a massive opportunity, and we want to be the logistics backbone for India’s craft economy.

Will this initiative be integrated into DTDC’s rapid commerce or cross-border e-commerce strategy?

Yes, it’s closely tied to both. Rapid commerce is targeted more at urban domestic consumers, but the cross-border e-commerce vertical will include curated channels for these 700+ handicrafts and GI products. We’re also looking at forming partnerships with government and private platforms that support Indian artisans. It’s a long-term strategy, but one with meaningful economic and cultural impact.

What leadership challenges have you faced as CFO during tech shifts and global volatility?

One key principle we've embraced is getting "comfortable with discomfort." Post-pandemic, disruption is constant—be it wars, policy shifts, or economic shocks. My role has been to instill resilience in the finance function, promote learning and upskilling, and lead digital transformation to make the organization adaptive.

How do you balance the CFO's gatekeeping role with being a strategic partner?

The finance role has evolved. It's no longer just about control. Strategy, compliance, governance, and digital enablement are now part of the portfolio. I believe in empowerment—delegating decision-making within a clear monitoring framework. We also encourage a culture that tolerates honest mistakes, so long as there is no bad intent.

Finally, what legacy do you want to leave behind as CFO of DTDC?

I hope to be remembered as someone who not only delivered on expectations but also built a team that is empowered, collaborative, and capable of independent decision-making. For me, it's about fostering a culture of learning, collaboration, and resilience.