February 23rd, 2015

IKEA to set up more manufacturing facilities in India

Swedish furniture retailer IKEA will set up more manufacturing facilities in India and has plans to increase production in the country, its top official has said.

In a meeting with the Department of Industrial Policy & Promotion (DIPP) Secretary, Amitabh Kant, on Wednesday, IKEA India CEO Juvenico Maetzu shared the company’s plans for India.

While IKEA is yet to open its stores in India, it has already announced its plan of investing INR12,500 crore (INR125 billion, USD2b) in the country and set up 25 stores over the next ten years.

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