About 75k industrial areas coming up; USD 7 bn worth of platforms created for warehousing since 2015
New Delhi: There is 75,000 acres industrial areas coming up across India. About USD 7 billion worth of platforms have been created for warehousing since 2015.
There a a number of emerging tier II and III warehousing hubs like Vijaywada, Ludhiana, Bhubaneshwar, Ambala, Lucknow, Siliguri, Vishakhapatnam, Kochi, Nagpur, Coimbatore, Indore, Jaipur, Dholera and Guwahati, according to ANAROCK.
There is about 110 million square feet of Grade A warehousing stock already available in the country. Out of this, the top eight cities have 77 million square feet of both Grade A and B warehousing supply.
There are a number of trends emerging in the warehousing industry like de-centralization, higher demand for A Grade warehousing space, urban multi-level warehousing, increase in automation and business consolidation increase
Govt. has reduced total approvals for setting up warehouses from 33 in 2015 to 15; warehouse construction time reduced from 6 months to 3.5 months during this period.
Shobhit Agarwal, MD & CEO – ANAROCK Capital says, “The rising demand for Grade A warehousing properties across the country is a key trend. Our data indicates that there is more than 110 million square feet of Grade A warehousing stock available across the country - most of it in the top 8 cities. 3PL (third-party logistics) and e-commerce are the largest occupiers of warehousing space. There is a massive opportunity for Grade A warehousing development in the smaller cities amidst rising demand.”