The industrial and warehousing sector recorded a total absorption of 22.4 million sq ft in H1 2023, indicating a 7% increase compared to the 20.9 million sq ft absorbed in
the first half of 2022, according to a Savills India report. Tier I cities accounted for 75% of the total absorption in the first half of 2023, while
tier II and III contributed the remaining 25%. The industrial and warehousing sector also witnessed new supply of 27.4 million sq ft during the same period, reflecting a
36% growth from the 20.2 million sq ft recorded in the first half of 2022.