Kolkata, 17th January 2018: CREDAI Bengal on Day 2 of BGBS hosted a Sectoral Session on “Infrastructure” with focus on the sunshine sector of “Warehousing & Logistics”. According to JLL, the Knowledge Partner for the Session, proposed investment to the tune of INR 4,300 CR INVESTMENT IN WAREHOUSE BY 2020 would GIVE ORBITAL VELOCITY TO WEST BENGAL. An estimated 12,000+ jobs was also likely to be created by warehousing alone and warehousing space was expected to grow at CAGR of 28% upto 22 msf in West Bengal by 2020.
Nandu Belani, President, Credai Bengal Says: “Bengal is witnessing growth in various real estate sectors coupled with Govt.’s push for infrastructure and the state’s strategic location in eastern India. Going forward, we would be seeing many investments of different types and sizes in this space across the state. We showcased the sunshine industry of ‘Warehousing’, at Bengal Global Business Summit 2018 because this sector has enormous opportunities for real estate players as the sheer number of key warehousing clusters serving Kolkata keeps growing”.
Speakers at this Session were Shri Firhad Hakim, Hon’ble Minister for UD & MA, Govt. of West Bengal, Shri OS Meena, Secretary, UD, Govt of West Bengal, Anshul Singhal, CEO of Embassy Industrial Parks, Rahul Nair MD, Real Estate, Everstone Capital, Ramesh Nair, Head of JLL India and Pratiik Jalan from Jalan Builders who spoke on the opportunities that Warehousing holds forth for the infrastructure creators and real estate. The Session was moderated by Mr Nandu Belani. Anshul Singhal, CEO of Embassy Industrial Parks made a big ticket announcement on stage to the tune of Rs. 1000 crores for West Bengal.
Anshul Singhal, CEO of Embassy Industrial Parks, announced “The investment of Rs 1000 crores over the next 3 years which could provide employment to 1000 people across the state.”
With a pipeline of MOU’s that the West Bengal government is expected to execute in the next three years, the state will see over INR 4,300 Crores being invested mostly creating state-of-the-art warehousing facilities strategically placed around the state. The state that acts as a gateway to north – east and to South Eastern countries has a total stock of 11.6 million square feet (msf) of warehousing space. This is set to go up by CAGR 28% with supply moving upto 22 msf. The key markets across the state that would see the first phase of development include, Dankuni, Alampur / Dhulagarh, Ulberia, Kalyani, and Sirakol, and, mostly around Kolkata. Further, potential logistics nodes such as Asansol – Durgapur, Haldia and Siliguri would be seeing additional developments in the next phases.
Ramesh Nair, CEO & Country Head, JLL India says, “West Bengal is standing at a turning point of logistics revolution with lot of opportunities knocking the doors. GST implementation has opened up floodgates for logistics opportunities in Bengal as GST has eradicated the state boundary for logistics which has opened up windows of distribution opportunity in East and North East India – imminent from the growing developer interest in the region and the proposed MMLP. It’s time to see how the state improves its status on ‘Ease of Doing Business’ and adapts to the changing needs of the sector and embrace growth.”
Some of the prominent national developers that will be creating / handholding the growth include, IndoSpace, Embassy Industrial Park, Jalan Industrial Park, Srijan Logistic Park, Frontier Warehousing, Apeejay Group, Manas etc.