Mumbai, Feb 26
India has 30 high-potential industrial and warehousing hotspots, driven by infrastructure expansion, manufacturing growth and policy push, according to a new report released on Thursday.
Eight out of 30 high-potential cities are already established markets, as Colliers identified 22 additional emerging and nascent hubs.
It identified multiple high-potential cities based on industrial hubs identified by the government and an in-house analytical framework built around five key parameters/infrastructure projects.
These parameters are enhanced connectivity along strategic industrial and freight corridors; upcoming Industrial smart cities; proposed Multi-Modal Logistics Parks (MMLPs); expansion of sea and airport linkages; and development of large integrated textile hubs.
India's manufacturing sector, currently contributing about 17 per cent of the country's GDP, is projected to increase its share to approximately 25 per cent by 2035.
Against this backdrop, the industrial and warehousing sector is emerging as a high-growth frontier, supported by rising demand for modern and efficient warehouses and strong traction in institutional investments.
"The next wave of industrial and warehousing growth will be strengthened by expanding industrial and freight corridors, multimodal logistics parks, smart industrial cities, and major sea-airport expansion projects," said Vijay Ganesh, Managing Director, Industrial and Logistics Services, Colliers India.
Notably, the recent budget has prioritised economic growth dispersion by emphasising the need for enhancement in domestic manufacturing capabilities.
Additionally, the allocation of Rs 5,000 crore per City Economic Regions (CER) and focused interventions across key sectors such as life sciences, electronics, semiconductors, chemicals, rare earth minerals and textiles, etc. can boost long-term warehousing growth in the established markets and simultaneously open up investments in multiple emerging and nascent markets, Ganesh explained.
The geographical spread of 30 identified high potential industrial and warehousing hotspots highlights equitable growth across the Northern, Southern, Western, Eastern, and Central regions of the country.
Notably, the 8 "Prime hubs" are already established demand centres and are expected to mature further, consolidating their lead and absorbing new capacity quickly, said the report. Industrial and warehousing demand across top 8 cities can cross 50 million square feet by 2030.
The 12 "Emerging hubs" are likely to gain significant momentum over the course of next few years as critical industrial corridors, logistics parks and multi-modal hubs, etc.
The 10 "Nascent hubs" are represented by cities where the impact will start to pick pace gradually and depend on enablers such as core infrastructure adequacy, policy support and investor readiness, said the report.
- IANS
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