India warehousing leasing jumps 15% to 19.3M sq ft in Q1 2026; retail surges 115%
Knight Frank data shows India's eight major warehousing markets logged 19.3M sq ft of leasing in Jan-Mar 2026, up 15% YoY. Retail occupiers led the charge with 115% growth, while 3PL rose 64%. E-commerce demand cratered 71% and FMCG fell 87%. Mumbai dominated at 7.4M sq ft (+66%); Kolkata spiked 440%. Vacancy held at 11.1% as rentals climbed across all markets.
India warehousing leasing rose 15% YoY to 19.3M sq ft in Q1 2026, led by manufacturing and 3PL. Retail leasing surged 115%, but e-commerce fell 71% and FMCG 87%. Mumbai dominated; rentals climbed across all eight markets.