Warehouse leasing to touch 100 mn sq. ft. in next three years

CBRE South Asia Pvt. Ltd., India’s leading real estate consulting firm, announced the findings of its ‘INDIA’S INDUSTRIAL & WAREHOUSING SECTOR: TENACIOUS AMIDST THE TURNING TIDE’ report. Against the backdrop of robust growth of manufacturing, e-commerce and third-party logistics (3PL) sectors, the report highlights how Industrial and Warehousing (I&W) activity has gained momentum over the past few years in India.
The report delves into the dynamics of the current manufacturing ecosystem in India and its improving prospects as an alternative supply chain destination on account of elements such as favorable demographics, relatively low labor costs, and continued thrust on infrastructure improvement and policy reforms. Anshuman Magazine, Chairman, India & South-East Asia, Middle East & Africa, CBRE, said, “Over the past decade, India has consistently aimed at diversifying from a services-based economy to becoming an alternate manufacturing destination in APAC. As a result, the demand in the Indian I&W sector has surged, making it one of the key growth drivers of the real estate industry. With strong government support to ease investment norms through attractive tax sops and policy initiatives, we can expect increased interest from domestic and global manufacturers.”