Ikea Applies to Invest Almost $2 Billion in India

BY AMOL SHARMA

NEW DELHI?Swedish housewares giant IKEA Group asked India for permission to invest ?1.5 billion ($1.9 billion) in the country to set up 25 retail stores in coming years, a commitment that provides some relief for New Delhi policy makers who have been trying to boost sagging foreign-investor sentiment.

IKEA's foray into India, made possible by a policy change last year that allowed some retailers to own 100% of their Indian units, could help transform India's largely unorganized, $500 billion retail sector. But the company will face significant challenges, including meeting the government's mandate that it source 30% of inventory from ...

BY AMOL SHARMA

NEW DELHI?Swedish housewares giant IKEA Group asked India for permission to invest ?1.5 billion ($1.9 billion) in the country to set up 25 retail stores in coming years, a commitment that provides some relief for New Delhi policy makers who have been trying to boost sagging foreign-investor sentiment.

IKEA's foray into India, made possible by a policy change last year that allowed some retailers to own 100% of their Indian units, could help transform India's largely unorganized, $500 billion retail sector. But the company will face significant challenges, including meeting the government's mandate that it source 30% of inventory from ...

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