Snapdeal, Amazon boost India Post profit

India Post is reported to have clocked 37-per cent increase in parcel revenues after its tie-up with leading e-tailers like Snapdeal and Amazon.

India Post is focussing on the fast-growing parcel segment and has introduced various steps to modernise the department under the Digital India initiative . To expand its business, India Post had entered into an agreement with online marketplaces like Snapdeal, Amazon, Paytm and Yepme for parcel delivery and has also set up 48 mondernised centres to handle the packages.

"Investment is being made for augmenting e-commerce parcel booking, transmission and secure handling capabilities and for mechanising delivery starting with the bigger cities. As a result of these efforts, the parcel revenues have jumped by 37 per cent in the last one year reversing the declining trend in postal business," an official of the communications and IT ministry said.