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Warehouse And Industrial Park: In 2023, over 5 million sq ft of warehousing space was taken by companies in tier II cities like Lucknow, Chandigarh, Nashik, Hosur and Coimbatore, which are emerging as the central industrial corridors, with Indore, Chandigarh, Coimbatore, Lucknow, Nashik and Jaipur airports being equipped with cargo handling units.
Global brands like Zara, H&M, Bugatti Fashion, La Vie en Rose, Adidas, Nike, West Elm, Starbucks, Uniqlo, and Marks & Spencer are growing rapidly in India. Small towns with brand-conscious buyers and rising disposable incomes are driving their expansion. International brands accounted for 25% of retail leasing in 2023, up from 14% the previous year. Canadian lingerie retailer La Vie en Rose debuted in India, while Rimowa, Bugatti Fashion, West Elm, and Victoria's Secret expanded their presence. In addition, several global brands have entered tier-II cities, capitalizing on the strong d...
The Sustainability Committee is responsible for overseeing the development and implementation of ICAEW’s strategy and policies on sustainability.
Most non-metro cities are established trade and business hubs and are now witnessing multinational corporations and start-ups setting up offices as well. The growing population in tier-II cities is further propelling demand for a diverse range of retail offerings.
Development completions increased by about 13% Y-o-Y to reach 56.7 million sq. ft., an all-time high during 2023. Developers continued to exhibit their efforts towards sustainability, with nearly half of the newly completed developments during 2023 being green-certified (LEED or IGBC).