NEW DELHI: Internet retailer Amazon and its fast-growing local rivals are driving a boom in commercial property leasing in India as their storage needs rise, with shoppers in the country going online to buy everything from televisions to groceries.
Demand from e-commerce firms, a tiny fraction of retail industry, accounted for as much as 40 per cent of 1.7 million square feet of warehouses leased in 2014 - a seven-fold increase from 2013, according to consultants CBRE South Asia. Warehouse rents have risen by a quarter over the past year.
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