According to Ankur Gupta of Brookfield Asset Management, local businesses are upgrading office spaces. Indians are looking for higher-quality homes, hotels, restaurants, and vacations, reflecting significant lifestyle changes over the last few decades. 

According to Ankur Gupta, Managing Partner and Head of APAC and ME Real Estate at Brookfield Asset Management, the sector contributes significantly to the economy directly and indirectly and thus is at the heart of India’s recent transformation. 

“Real estate provides that house, that backbone, not only by directly contributing to GDP but also by increasing productivity. A good quality real estate establishment, whether a manufacturing hub, logistics infrastructure, offices, high-quality homes, or hospitality, is the foundation for various industries. Gupta cited steel, cement, paints, and tourism as examples of direct users or secondary contributors to hotels. 

He cited the fact that local businesses are increasingly looking to transform their office spaces, and Indians want to live in higher-quality homes, visit higher-quality hotels and restaurants, and take vacations that were less desirable several decades ago.

Brookfield, he says, is very interested in these shifts in demand, and the next major motivator would be to support the growth of the country’s manufacturing system and the development of logistics and industrial hubs. 

These transformations will necessitate massive amounts of capital, a collaborative approach with the government and various state bodies, and the cooperation of organizations such as Brookfield. 

India’s unique combination of services and manufacturing will propel it to global leadership. It makes no difference if it is second or third. He believes that it is currently the best market in the world to invest in.