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Warehousing India: The Warehousing & Logistics sector saw a rise in absorption, recording 37.8 million sq ft in 2023, a 21% increase from the previous year. Despite a 65% decline in investments in 2023, reaching USD 646 million, absorption surpassed the 2019 pre-pandemic level by 15%. Third-party logistics companies accounted for 44% of overall absorption, followed by Engineering and Manufacturing at 18%.
India Business News: India has reported significant improvements in reducing waiting times at toll plazas and export release times at land ports. The average waiting time
Tier-I cities witnessed 78% of the absorption, while tier II and III cities accounted for the remaining 22%. The absorption is being led by a surge in demand from the manufacturing and retail sectors, as well as continued sustained demand from the 3PL sector, according to the latest report by Savills India, an International real estate advisory firm.