3PL firms fill Indian warehouses as e-com inflows reduce: Knight Frank - Fibre2fashion.com

India's top eight markets saw record-high warehousing transactions, reaching 51.3 million square feet in FY23, while the 13 secondary markets studied saw a 15% growth. The 3PL sector secured the highest market share of transactions in FY23, accounting for 39%, followed by the manufacturing sector and retail. E-commerce transactions experienced a 71% YoY decline in FY23 due to excess capacity built during the pandemic, according to a report by Knight Frank India. Flexible and sustainable warehousing is driving demand for development of grade A facilities, which currently account for 40% of total stock.

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