Mumbai, July 16
The green warehousing sector in India is poised for exponential growth, with certified sustainable warehouse space expected to quadruple from current levels to approximately 270 million sq. ft by 2030, according to a report released by global real estate services company JLL on Wednesday.
Since 2019, Grade A warehousing stock across India's major cities has expanded dramatically, growing 2.5 times from 88 million sq. ft to an impressive 238 million sq. ft by 2024. This growth reflects the increasing demand for high-quality storage and distribution facilities as the country's economy modernises, and e-commerce continues its rapid expansion, the report said.
More striking is the rise of institutional-grade warehousing space, which has tripled from 28 million sq. ft in 2019 to 90 million sq. ft by end of 2024. This surge demonstrates the growing confidence of major global investors who are bringing international sustainability standards to the Indian market, according to the report.
"Out of the 90 million sq. ft of institutional Grade A supply, around 72 per cent or 65 million sq. ft is green certified or at different stages of green certification currently. Perhaps the most encouraging is that this 65 million sq. ft is anticipated to quadruple by 2030, as institutional players prioritise sustainability through LEED, IGBC, and other certifications.