By Accommodation Times News Service
“In addition to growth in consumption and e-commerce, we see India’s great manufacturing potential being unlocked by the government’s Make in India program. This requires world-class industrial and logistics real estate, and as pioneers and leaders in this asset class we will continue to invest aggressively,” said Rajesh Jaggi, Managing Partner – Everstone Real Estate, and Co-CEO of IndoSpace
Indo Space a industrial and realty logistics developers is planning to invest $1 billion more in India for next 5 years making it almost $1.75 billion as the company has already invested $750 million over the last seven years. Rajesh Jaggi, Managing Partner, Everstone Real Estate & Co-CEO, Indo Space is very positive about the Make in India campaign said, the additional investment will increase its development pipeline from 20 million sq ft to 50 million sq ft, the company said in a release. “In addition to growth in consumption and e-commerce, we see India’s great manufacturing potential being unlocked by the government’s Make In India program. This requires world-class industrial and logistics real estate, and as pioneers and leaders in this asset class we will continue to invest aggressively.
Currently, IndoSpace, a joint venture between Everstone Group and Realterm, operates industrial and logistics parks in Pune, the National Capital Region, Bengaluru and Chennai. The company has plans to fund and expand its 17 industrial real estate projects across the country to support manufacturing, consumer and third-party logistics companies operating in the country’s rapidly growing economy.
“It is critical that the enabling infrastructure such as land and facilities to manufacture and store goods are in place as India’s manufacturing engine gathers speed,” said Brian Oravec, CEO of IndoSpace.
On Sunday, Swedish Prime Minister Stefan Lofven’s visited the company’s 1.7 million sq ft industrial complex at Chakan in Pune and reviewed Swedish company Ericsson’s site there, the release said.
“Our aim as the leader in this space is to do our part to ensure that the required infrastructure is in place to make in India with ease,” added Oravec.
IndoSpace Chakan is located at Chakan, a prime industrial hub near Pune, houses Ericsson and other leading global companies including Bosch, DHL, Leoni, Steelcase, Kubota and Delphi.
IndoSpace’s announcement comes as the high-profile ‘Make in India’ week is underway in Mumbai, where Lofven and other foreign heads of governments, as well as top Indian and international corporate leaders, are congregating.