Embassy Group forms $500m Indian logistics JV with Warburg

Embassy Group, an Indian real-estate developer, has partnered with Warburg Pincus, to invest in India’s logistics sector due to the increasing e-commerce in the country, reported Bloomberg.

The venture 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, COO at Embassy Group, said in a Bloomberg interview. “We believe that absorption is only going to go up. It’s still a very initial stage of the market.”