India Market Monitor Q1 2024 – Industrial & Logistics

India's economy continues to grow at the fastest pace among all major economies. Inflation has come down for almost all major goods and services except for food items. Private consumption is expected to pick up as inflation eases in the coming months. Further decline in the Consumer Price Index (CPI) would strengthen the Reserve Bank of India’s (RBI) confidence to initiate a measured easing of key policy rates and reserve ratios. The government's fiscal consolidation roadmap, coupled with the central bank's cautious monetary policy, has established a strong footing for continued economic expansion.

With this backdrop, here is a review of the key trends witnessed in the industrial & logistics (I&L) sector in Q1 2024:

-        Industrial & Logistics (I&L): The I&L sector witnessed an uptick in leasing activity on a quarterly basis in Q1 2024. Despite limited completions during the quarter, supply addition is expected to pick up pace as several prominent projects backed by institutional funds are lined up for completion in the upcoming quarters.

To delve deeper into our analysis of the I&L landscape in India, please click on the download button.