Market activity is showing early signs of recovery and we firmly anticipate the revival to gain pace from H1 2021 with the vaccine rollout. India (apart from China) was the only country in Asia Pacific that recorded a positive net absorption in 2020, which is a good indicator for the office markets. The fact that India’s outsourcing industry pivoted very quickly in the pandemic, the increased need for outsourcing and India’s cost-plus value addition (especially in 2020 and over the next 2-3 years) have given a boost to the Indian tech industry.

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