India’s industrial and warehousing sector witnessed a robust 17% growth in leasing activity during the first nine months of 2024, according to a leading industry report. This surge underscores the sector’s resilience and its critical role in the nation’s evolving supply chain and logistics landscape.
The report highlights a cumulative leasing volume of approximately 25 million square feet across major markets, driven by increasing demand from e-commerce, third-party logistics (3PL), and manufacturing sectors. The National Capital Region (NCR), Mumbai, and Bengaluru emerged as the top-performing markets, collectively accounting for over 60% of the total leasing activity.
Analysts attribute this growth to rising consumer demand, policy reforms, and enhanced infrastructure development, including the operationalization of several key freight corridors. The warehousing space has also seen a spike in demand for Grade-A facilities, reflecting a shift towards quality-driven requirements among occupiers.
Experts predict continued momentum in the industrial real estate sector, with an anticipated uptick in investments and leasing in Tier-II cities, further expanding the sector’s footprint.
This trend highlights the growing importance of an efficient warehousing network in supporting India’s economic growth trajectory, as businesses increasingly prioritize streamlined operations and last-mile delivery.