With a rising need to store the COVID vaccine upon its availability, the country’s cold chain warehousing is expected to witness a significant growth over the next few years.
As per reports, a high demand for both greenfield and brownfield warehouses from existing and new players have been observed.
The Warehousing sector had seen important capital influx and new capability creation following the implementation of the products and companies tax regime, particularly within the high eight cities of the nation.
The sector obtained investments of $1-1.5 billion yearly, previously, for 2-3 years from these funds.
According to the National Centre for Cold-Chain Development, the COVID-19 vaccine requires a temperature ranging from 2 and 8 degree Celsius for its storage and between supply interval.
Union minister of health and family affairs Harsh Vardhan earlier stated that the central authorities expect to obtain and utilise 400-500 million Covid-19 vaccine doses and will cowl 200-250 million individuals by July 2021.
Further, towards the preparedness of the vaccine, the Centre has directed states to make a complete plan for vaccine storage and distribution by October 15.
The nation has majority of regional chilly chain logistics players while a couple of them are nationwide degree players such as Snowman (backed by Adani), Coldman, TCI, Gati and Sical.
In 2019, the total number of cold storage capability within the nation stood at 37-39 million tonnes with States like Uttar Pradesh, West Bengal, Gujarat, Punjab, Andhra Pradesh, Bihar, Madhya Pradesh, Maharashtra, Haryana and Karnataka accounting for 91% of the entire capability.
Moving forward, India is estimated to attain 1,400-1,500 million sq ft of general cold storage inventory by 2023 says a report by the CBRE.