Finance Ministry lauds REITs, e-commerce for growth, generating jobs in August economic review
The ministry noted four existing listed Real Estate Investment Trusts (REITs) have driven growth in stabilised commercial assets, while standardised market valuation processes and REIT regulations have fostered market-based approaches.
- Sep 26, 2024,
- Updated Sep 26, 2024 6:31 PM IST
The union finance ministry, in its monthly economic review in August, supported Real Estate Investment Trusts (REITs) and e-commerce industry noting that institutional participation and transparency had helped develop best practices for the country’s commercial real estate market. “Four existing listed Real Estate Investment Trusts (REITs) have driven growth in stabilised commercial assets, while standardised market valuation processes and REIT regulations have fostered market-based approaches,” the ministry stated in its monthly analysis.
“Real Estate Regulation Act and the Insolvency and Bankruptcy Code have improved investor protection, digital land registry records and strict monitoring by RBI and SEBI have created a robust regulatory landscape,” the ministry said.
The finance ministry showed its support for the e-commerce industry, emphasizing its significant role in driving growth within India's service sector. Citing a study conducted by Pahle India Foundation (PIF) in collaboration with People Research in India's Consumer Economy (PRICE), the ministry highlighted the positive impact of e-commerce on both job creation and consumer welfare.
According to the ministry, the e-commerce sector has experienced a notable surge in job opportunities, with a 42% increase in managerial positions among online retailers. This shift reflects the increasing complexities of e-commerce operations and the evolving nature of the industry.
Furthermore, the ministry noted a transition from traditional roles to more technology-focused positions within the workforce. It stressed the importance of addressing the skills gap to accommodate these new job opportunities in the e-commerce sector.
“Improving logistics and delivery services infrastructure is essential as ecommerce continues to expand,” the report further said.
The Indian economy exhibited growth of 6.7 percent in the first quarter of FY25. It was noted in the report that the recent high frequency data for August aligns closely with the Economic Survey's forecast of 6.5-7 percent growth for FY25.
The union finance ministry, in its monthly economic review in August, supported Real Estate Investment Trusts (REITs) and e-commerce industry noting that institutional participation and transparency had helped develop best practices for the country’s commercial real estate market. “Four existing listed Real Estate Investment Trusts (REITs) have driven growth in stabilised commercial assets, while standardised market valuation processes and REIT regulations have fostered market-based approaches,” the ministry stated in its monthly analysis.
“Real Estate Regulation Act and the Insolvency and Bankruptcy Code have improved investor protection, digital land registry records and strict monitoring by RBI and SEBI have created a robust regulatory landscape,” the ministry said.
The finance ministry showed its support for the e-commerce industry, emphasizing its significant role in driving growth within India's service sector. Citing a study conducted by Pahle India Foundation (PIF) in collaboration with People Research in India's Consumer Economy (PRICE), the ministry highlighted the positive impact of e-commerce on both job creation and consumer welfare.
According to the ministry, the e-commerce sector has experienced a notable surge in job opportunities, with a 42% increase in managerial positions among online retailers. This shift reflects the increasing complexities of e-commerce operations and the evolving nature of the industry.
Furthermore, the ministry noted a transition from traditional roles to more technology-focused positions within the workforce. It stressed the importance of addressing the skills gap to accommodate these new job opportunities in the e-commerce sector.
“Improving logistics and delivery services infrastructure is essential as ecommerce continues to expand,” the report further said.
The Indian economy exhibited growth of 6.7 percent in the first quarter of FY25. It was noted in the report that the recent high frequency data for August aligns closely with the Economic Survey's forecast of 6.5-7 percent growth for FY25.