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Ecommerce
driving more demand in Indian Warehousing Space.
E-commerce
continues to drive demand for logistics and warehousing space in the
country and has attracted a lot of interest from developers and
private equity players, property consultant CBRE said.
"With
the logistics and industrial segment witnessing significant
development, there is a lot of interest from both developers and
private equity investment," CBRE South Asia Managing Director,
Advisory and Transaction Services, Ram Chandnani said in a statement.
The
government's investor-friendly investment policies, improving
domestic economy and progressive legislative reforms are all steps
boosting the sector, he said at a conference here.
"India
is yet to achieve its full potential when it comes to the logistics
sector, even though the World Bank has ranked India 35th in
logistics.
"China
is ranked 27th but India is not too far behind," said M T
Murthy, Member (Operations) India Post, Ministry of Communication and
Information.
Stating
that lack of adequate infrastructure has slowed down India's economy
in the past, Murthy said the government is committed towards capacity
building.
E-commerce
is playing a major role in driving up the demand in logistics that
witnessed a growth of 57% between 2009 and 2015, the statement said.
"India
Post now has 700 e-commerce partners who rely on the government for
their service delivery," Murthy said.
According
to CBRE, nearly 2 million sq ft of warehousing space was taken up by
e-commerce firms in 2015, which is a significant jump, as the share
of the sector rose from a meagre 2% of the total warehousing demand
in 2012, to around 22% during 2015.
With the Reference of : dnaindia
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