Pragati Warehousing signed MoU with Tamil Nadu government to invest Rs 1,500 crores in logistics and industrial real estate. This investment will create direct employment for 500 people and generate 2,000 indirect jobs. Pragati is committed to transforming the Indian warehousing landscape. They are currently developing a Grade-A industrial and warehousing park in Sriperumbudur.
Large international investors are expected to lead the increase in investments in the industrial industry this year as they acquire ready-made and greenfield warehouse sites with the expectation of earning higher returns. A $0.64 billion influx of investments was recorded in the L&I category between January and September 2023, accounting for 17% of the total capital.