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Home > All news > Logistics, Report & Analysis > Annual leasing volume in India’s logistics and industrial space to exceed 50 MSF in 2024

Annual leasing volume in India’s logistics and industrial space to exceed 50 MSF in 2024

December 26, 2024

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Haryana Government approves extension of Logistics, Warehousing & Retail Policy Chandigarh - The Haryana government’s approval for the extension of the Haryana Logistics, Warehousing & Retail Policy, 2019, is expected to further boost investment in the sector, experts said. The Haryana Logistics, Warehousing & Retail Policy, 2019, offers various fiscal incentives to reduce the cost of doing business and promote investments in the logistics, warehousing, and retail sectors in the state. “Haryana’s government has always been proactive in supporting the warehousing industry, which is why the majority of warehousing in the NCR is concentrated in Gurgaon and surrounding areas. Over the last two years, the rise of e-commerce and Q-commerce has driven significant growth in land acquisition for warehousing and logistics. The extension of the policy will ensure this growth momentum continues,” said Mudassir Zaidi, Executive Director, North, at real estate consultancy Knight Frank India. The Haryana government’s policy aims to simplify regulatory procedures, develop cost-competitive multi-modal logistics, warehousing, and retail infrastructure, and upgrade human capital through initiatives to build a skilled labor pool for these sectors. The development is backed by incentives like capital and interest subsidies, stamp duty and EDC reimbursements, electricity duty exemptions, and capacity-building support. “The extension of the Haryana Logistics, Warehousing & Retail Policy, 2019, with its incentives to boost investment in multimodal logistics and warehousing development, will accelerate the mission to build an efficient logistics ecosystem in line with the PM GatiShakti initiative and the National Logistics Policy. These measures will not only strengthen Haryana’s position as a logistics and warehousing hub but also positively impact the logistics efficiency of the country,” said Suresh Kumar, MD, Allcargo Terminals Limited, an Allcargo Group company. “These policy decisions to incentivise investments in logistics infrastructure will set the stage for large-scale private investments in logistics development and enable logistics companies to play a greater role in driving economic growth,” Kumar added. The Logistics & Industrial (L&I) real estate leasing volume for 2024 is projected at 50–53 million sq ft, the third consecutive year exceeding this milestone, driven by the 2020 Production-Linked Incentive (PLI) scheme and robust growth in retail and e-commerce activity. The Department of Industries & Commerce is currently in the process of notifying the Haryana Logistics, Warehousing & Retail Policy, 2024. The 2019 policy, valid for five years, expired on March 8, 2024. The cabinet has extended the policy until December 31, 2024, or until the final Logistics, Warehousing & Retail Policy, 2024, is approved, whichever comes earlier.

Mumbai - Annual leasing volume in the logistics and industrial real estate space in India is likely to exceed 50 million square feet (MSF) for the third year in a row, and this strong momentum is likely to prevail in the coming year too, according to a report on Tuesday.

As of October, the leasing volume had already surpassed 41 MSF across the top eight real estate markets, according to a Cushman & Wakefield report.

Ever since the production-linked incentive (PLI) scheme was introduced by the government in 2020, the industrial leasing volume witnessed healthy . . .

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Disclaimer: This information has been collected through secondary research and Daily Shipping Times is not responsible for any errors in the same.