Pragati Warehousing signs MoU, plans to invest ₹1,500 cr in five years

Pragati Warehousing has signed MoU with the Tamil Nadu government, signaling a substantial investment exceeding ₹1,500 crores over the next five years. This decisive step cements Pragati Warehousing’s steadfast commitment to propelling economic development in Tamil Nadu. The company is strategically positioned to contribute significantly to the region’s growth, with plans to invest in the development of industrial and logistics parks. This investment is projected to generate direct employment opportunities for 500 individuals and create an additional 2,000 jobs indirectly. Lt Col Jitender Yadav, Chairman and Founder at Pragati Warehousing, said, “At Pragati, our efforts are dedicated to transforming the Indian warehousing landscape. This MoU reinforces our commitment to add global standard assets to the Indian logistics and industrial real estate. We believe in setting new industry benchmarks and ensuring that our contributions elevate the standard and efficiency of the entire sector.” Maneesh Jain, Chief Investment Officer at Pragati Warehousing, commented on the MoU signing, “From ease of doing business to a well-established industrial ecosystem, Tamil Nadu offers a compelling proposition for any investor. Tamil Nadu’s strides in electronics and auto manufacturing make it a pivotal hub for our expansion. This collaboration is a testament to the state’s forward-thinking policies, and Pragati Warehousing is excited to contribute to the state’s thriving industrial landscape.” Chandraveer Singh, Chief Financial Officer at Pragati Warehousing, added,
“This MoU with the Tamil Nadu government will be instrumental in achieving shared objectives. It also lays a solid foundation for our further expansion in the key micro markets of the state. We are excited to be the state’s partner in progress.”