Indian warehousing sector witness 15% YoY increase in total stock of Grade A and B spaces across eight major cities.

In a recent report titled ‘Exploring India’s thriving logistics and warehousing landscape’ by JLL, the warehousing sector in India demonstrated remarkable growth in 2023, with a 15% year-on-year increase in total stock of Grade A and B spaces across eight major cities. The cumulative warehousing space reached 371 million sq ft by the end of the year, showing a significant rise from 329 million sq ft in the previous year.

Yogesh Shevade, Head of Logistics & Industrial at JLL, noted, “The Indian warehousing sector has been on an exceptional growth trajectory since 2017.” He attributed this growth to a 15% YoY increase in total warehousing stock, reaching 371 million sq ft. The sector experienced a net demand of approximately 40 million square feet in the same period, with 70% of this demand being accounted for by Grade A spaces. Shevade emphasized the shift towards quality facilities to meet the evolving demand for efficient logistics and supply chain solutions.