India’s warehousing industry is undergoing a seismic shift, propelled by the twin engines of industry and infrastructure growth. Further, as India approaches the 2024 elections, the country is witnessing a surge of transformative infrastructure projects aimed at revolutionizing connectivity and bolstering economic growth, thereby also providing a massive push for accelerated growth for 3PL and warehousing sectors. According to a recent report, the Indian warehousing market witnessed significant growth H1 2023, marked by a 35% YoY increase in total space take-up, reaching an impressive 19.1 million sq. ft. The 3PL (Third-Party Logistics) players continued to be the driving force, contributing to about 43% of leasing activity, YoY. With the government focus on positioning India as a global manufacturing and logistics hub, several policies have been recently implemented, attracting estimated $10 billion USD investments in the warehousing and logistics sector. These developments, coupled with India’s ambitious infrastructure agenda for 2024, is set to propel India towards becoming a global logistics hub. (ICE NEW DELHI)

Fonte notizia: Financial Express