Our latest report examines India’s transition into a globally competitive manufacturing hub, driven by scale, diversification and supply chain realignment. It further explores how this shift is translating into strong, evolving demand for industrial & logistics real estate across both established and emerging markets. 

Key Highlights

• Manufacturing space leasing has witnessed a sharp upcycle, growing at ~30% CAGR from 5.8 mn sq. ft. in 2020 to 21.3 mn sq. ft. in 2025. 

• Industrial demand is diversifying beyond core hubs, with Tier-II & III cities increasing their share from 7% to 13%, indicating a gradual decentralisation.

• Between 2020 and 2025, Pune led the demand for cumulative manufacturing space leasing with 26.7 mn sq. ft., followed by Chennai with 9.4 mn sq. ft. and Bengaluru with 7.2 mn sq. ft. 

• There’s a strong shift towards larger and Grade-A compliant spaces, with rising deal sizes and institutional-quality developments becoming the preferred choice for occupiers.

• Auto & auto components (29%) and electrical & electronics (18%) dominated the cumulative leasing activity, with increasing traction from EVs, semiconductors and renewables. 

Our report has more details.