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Bloomberg
Embassy Group, an Indian real-estate developer, that has partnered with Warburg Pincus, has spotted a winner in India’s e-commerce slug-fest: logistics.
Embassy is looking to build warehouses and industrial parks near eight big Indian cities that can store goods for retail giants as billionaires
including Asia’s richest man, Mukesh Ambani and Amazon.com Inc’s Jeff Bezos clash for dominance in the world’s fastest-growing e-commerce market.
Embassy’s joint venture with Warburg, Embassy Industrial Parks, plans to spend $500 million over three years to develop such properties.
“E-commerce is going to be massive in India, we are seeing a huge digital shift happening throughout the country,†Aditya Virwani, chief operating officer at Embassy Group, said.
With Ambani’s Reliance Industries Ltd. planning to roll out its online shopping platform within 12-18 months, the competition is expected to intensify.