IKEA India, the Indian subsidiary of Swedish furniture retailer IKEA AB plans to make investment of Rs. 600 crore for setting up 2-3 outlets in Maharashtra for which it has inked a pact with the government there.
Chief Minister, Devendra Fadnavis told the legislature in a statement that the company will invest Rs. 600 crore in Maharashtra to set up 2-3 outlets. Each outlet will create around 1000 jobs.
IKEA, one of the world’s largest retailers in household goods was one of the first companies in India to be allowed 100 per cent foreign direct investment (FDI) in retail under the centre’s liberalised policy.
IKEA, which has around 50 suppliers in the country, is also looking to produce more for the Indian market.