TNT NV, the Dutch mail and express company, will invest $120 million over the next five years to boost its presence in India.

The spending will focus on organic growth through hubs, depots and connections between those locations, said Chief Executive Peter Bakker at an industry conference."

The company expects India's express market to more than double to $1.8 billion by 2010 from $764 million now, on a growing economy, increased manufacturing and rising consumption.

India's economy, Asia's third-largest, is growing at more than 7.5 percent a year, fueling demand for express services. TNT and other providers are eyeing new opportunities arising from the government's spending about $14.6 billion to rebuild thousand of miles of roads into multi-lane national highways, including routes connecting Delhi and the port cities of Kolkata, Chennai and Mumbai.

TNT has operated in India since 1994. It plans operations in 145 locations by the end of this year, covering more than 80 percent of India's $700 billion economy.