India Industrial & Logistics Figures H1 2023

August 8, 2023 10 Minute Read

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Despite global headwinds and slowdown in e-commerce leasing, I&L space take-up remained resilient in the first half of the year. Also, the half-yearly supply addition touched an all-time-high with the completion of pent up projects across cities. Below are a few broad trends observed in H1 2023:


  • I&L leasing activity stood at 19.1 million sq. ft., an increase of about 35% Y-o-Y, but a marginal decline of 3% compared to H2 2022.
  • Delhi-NCR, Mumbai and Chennai dominated the leasing activity; together, these cities accounted for about 60% of the overall space take-up.
  • 3PL players continued to drive the leasing activity with a share of about 43%, followed by engineering & manufacturing (16%), e-commerce (9%) and retail players (9%).
  • Supply addition increased by about 56% on a half-yearly basis and 78% Y-o-Y to touch 17.7 million sq. ft. during H1 2023, which is a historic peak.
  • Chennai followed by Kolkata and Mumbai led supply addition, together accounting for more than half of the project completions.


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