ICRA Ratings predict growth in warehousing facilities in eight major cities of the country. It said that the supply of industrial and warehouse Logistics Park will increase by 13 to 15 % in the current financial year. At present, 435 million square feet of warehouses are coming up in eight major cities of the country. Half of these warehouses will come under Grade A. However, the consumption of new accommodation will remain at 39 million square feet. It explained that the warehousing industry is witnessing steady demand from the third party logistics (transportation) and automobile sectors, with these sectors accounting for 53 % of the total warehousing leased area by March 2023. In addition to this, the rapid expansion of e-commerce and related services sectors is also increasing the demand for warehouses.
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