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Steep dip in e-commerce demand but long-term potential remains robust: Everstone’s Rajesh Jaggi
Rajesh Jaggi, vice-chairman, Everstone Group; Illustration by Manali Ghosh.
Synopsis
Slowing demand from e-commerce is a worrying signal for contemporary warehousing, which counts on-line gamers as its main occupants moreover third-party logistics (3PL), retail, and FMCG firms. E-commerce companies contributed a puny 4% to complete warehousing leasing within the first half of 2022, down from 23% within the first half of final 12 months, in accordance with knowledge from property-consultancy agency Colliers. What’s including to the owes is the rising value of main inputs like land and metal. Clearly, the working setting for warehousing gamers is getting more durable. Rajesh Jaggi, vice-chairman of Everstone Group, which backs the nation’s largest Grade A warehousing participant Indospace, shares his insights with ET Prime.
What does the present setting appear like for warehousing gamers?In the final 12 months, there’s a demand-supply slowdown internationally and in India. The business that we’re in is getting more durable due to rising land and raw-material prices. However, a very good signal is that leases in some markets have adjusted forcefully due to the rise in inflation. What we try to see is whether or not we are able to go for various and cheaper
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