As India’s Hunger for Business Spaces Grows, Singapore-based IT-park Specialist Announces Expansion in India

Ascendas, a Singapore-based firm that specializes in setting up IT parks, has announced that it plans to expand its existing facilities in India. Currently, the firm manages IT-park assets of nearly US$1 bn in India. The plans were articulated by Manohar Khiatani, group CEO and president of Ascendas. Speaking to media persons about the company’s future in India, Khiatani said that his company sees India as a lucrative investment destination and is exploring various opportunities to expand in the country.

Like many other firms looking to invest in India, Ascendas, too, looks at India’s investment in smart cities and infrastructure reform as engines that will drive growth in the coming years. About his company’s plans across Indian cities, Ascendas’ head honcho said that the company will continue to look at opportunities that exist or are being created in Indian cities such as Mumbai, Pune, Chennai, Delhi, Bangalore, and Hyderabad.

The key strategy of the company is to leverage the mounting demand for business spaces. On what makes India a lucrative market for his company, Khiatani said that the qualified labor force will continue to attract foreign companies to India, thus creating a strong demand for IT parks and technology parks in the country.

According to Nasscom, the IT-BPM industry in India generates about US$150 bn in revenue annually. Of these, exports constitute nearly a share of 67% in revenue. India’s domestic IT industry is expected to reach a new high thanks to national programs such as ‘Digital India’ and ‘Make in India’.

Moreover, a number of ecommerce startups mushrooming across the country – many of whom have found enormous success – continue to fuel the demand for business spaces. From a broader perspective, all of these factors are expected to create a sizeable market for IT parks and technology spaces.


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