Savills - India Industrial and logistics, 1H 2023

The Market in Minutes report for India Industrial & Logistics in H1 2023 provides an overview of India's economic performance and the industrial and logistics market in the country. Despite global headwinds, India's economy has shown remarkable resilience with a projected growth rate of 6.4% for FY24. Inflation has been managed well and key macro-economic indicators such as GST collections and PMI have been steadily expanding. The RBI has played a commendable role in maintaining domestic demand and liquidity. The Union Budget 2023-24 has identified 7 priority areas for long-term growth plan, viz., inclusive development, percolation of benefits to the last mile, infrastructure and investment, potential realisation, sustainable green growth, youth empowerment and reforms in the financial sector. The industrial and logistics market in India has been expanding, with key players investing in the sector. Indian banks' gross bad loans have fallen to a 10-year low of 3.9% in Mar 2023. The IT sector has been a key contributor to India's strong economic sentiments. Overall, the report paints a positive picture of India's economic performance and the industrial and logistics market in the country.