It said investment of approximately $200 mn is planned towards development of seven to eight logistics parks on approximately 600 acres of land around Mumbai.
As per the report, Indian logistics industry is expected to grow annually at the rate of 15 to 20%, reaching revenues of approximately $385 bn by 2015. Market share of organised logistics players is also expected to double to approximately 12% during the same period, it said.
The other cities that fall within the established locations include Kolkata, Chennai and Hyderabad. These locations are characterised by excellent port, rail and road connectivity and are witnessing significant investment in infrastructure.
High concentration of organised retail, established manufacturing hubs, proposed SEZ developments further augment the attractiveness of these locations, the report pointed out.
The report said about 110 logistics parks spread over approximately 3,500 acres at an estimated cost of $1 bn are expected to be operational and an estimated 45 mn sq ft of warehousing space with an investment of $500 mn is expected to be developed by various logistics companies by 2012.
With most of these developments concentrated in 14 locations, Cushman & Wakefield conducted a study to identify the top cities which have or would witness growth in the logistics sector based on various parameters such as the existing logistical infrastructure, existing and proposed manufacturing clusters, consumer markets, state and union government initiatives and geographical location.
According to industry analysts, almost all logistics players are in the process of setting up warehouses, container freight stations, inland container depots, logistics parks, distribution centres and other facilities to tap the trade opportunities fuelled by revolution in the retail, ports etc.
In Mumbai, Bhiwandi, on the outskirts of Mumbai, is the largest warehousing location, while Panvel is fast emerging as a warehousing cluster due to its proximity to the Jawaharlal Nehru Port Trust (JNPT) led by the availability of large land parcels.
Demand for warehouses and logistics services are expected to accelerate further due to increase in foreign trade and the upcoming Maha Mumbai Special Economic Zone. Warehouse rentals in Panvel are expected to increase by 15 to 20% over the next two years, it said.
"A clutch of new players are planning container freight stations in and around JN Port. This is in addition to proposed SEZs by Reliance Industries. The port itself is also planning to set up a SEZ for port related activities which will house logistics parks and warehouses," an industry source said.