Logistics industry to earn $ 385 bn by 2015

The logistics industry is poised to grow by around 15-20 per cent annually, earning revenues of around $ 385 billion by 2015, according to a report ‘Logistics Industry—Real Estate’s New Powerhouse’ brought out by Cushman & Wakefield.

The market share of organised logistics players is also expected to double to approximately 12 per cent in the same period.

The report notes that Mumbai is the ‘preferred location’ for the development of logistics parks. An investment of approximately $ 200 million is planned towards the development of seven to eight logistics parks on about 600 acres around Mumbai.

As many as 110 logistics parks, spread over approximately 3,500 acres at an estimated cost of $ 1 billion, are expected to be operational, and about 45 million sq. ft of warehousing space at $ 500 million investment is to be developed by 2012.

Many tier-2 and tier-3 cities and peripheral locations that offer good connectivity to multiple markets will witness increased activity from logistics players, providing a thrust to the real estate market, the report observes.

‘Established’ locations include Kolkata, Chennai and Hyderabad, besides Mumbai, Exim News Service reported.

Source: Transportweekly