FedEx Promotes Inclusive Entrepreneurship, Empowering Women and LGBTQIA+ Small Business Owners in India

India, Mumbai, November 21, 2024: Federal Express Corporation, the world's largest express transportation companies, is strengthening its role as a corporate citizen by supporting inclusive entrepreneurship through the United Way Mumbai Saksham initiative. In collaboration with the local humanitarian partner, FedEx is providing minority entrepreneurs with resources, training, and mentorship to foster economic independence in India's diverse and dynamic economy.

Since 2021, the Saksham initiative has been providing carefully curated business kits to small business owners across various sectors, including tailoring, food services, and beauty services, designed to meet local market demands. These kits enable beneficiaries to build sustainable businesses, and the May 2024 distribution alone produced impressive results as per United Way Mumbai post distribution assessment.

• 38%-who previously had no source of income-now earn an average annual income of ₹61,176.
• 19% of those who earned under ₹15,000 annually have seen their earnings rise to an average of ₹66,782.

This initiative has also driven transformative outcomes as per the NGOs post distribution assessment for the LGBTQIA+ community.

• Initially, 45% of LGBTQIA+ participants were unemployed. After enrolling in Saksham, 90% of them have secured employment or become self-employed.
• 68% are now employed in private sector roles, earning between ₹14,000-₹15,000 monthly, while 23% have established successful self-employment ventures in cultural performances, beauty services, and tailoring.

"Small and medium enterprises (SMEs) are a driving force for economic growth, yet many entrepreneurs lack the resources to succeed," commented Suvendu Choudhury, vice president, India Operations, FedEx. "The Saksham initiative helps bridge that gap for women and LGBTQIA+ entrepreneurs, providing them with essential resources and clear pathways to self-sufficiency. We're committed to helping them thrive within India's SME ecosystem and to support India's goals for inclusive, long-term economic development."

Since its launch in 2021, the Saksham initiative has been a cornerstone of the FedEx Global Entrepreneurship CSR pillar in India, empowering underserved groups with the tools to build sustainable livelihoods. Through Saksham, FedEx plays a crucial role in promoting economic self-reliance, aligning with the government's efforts to support small businesses.

About FedEx
Federal Express Corporation provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $88 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.