IKEA plans invest Rs 10,500 crore to set up 25 stores in India

Swedish IKEA, the world’s largest furniture manufacturer, has plans to invest about Rs 10,500 crore to establish 25 stores in single-brand retail in India. This will be the biggest investment in the single-brand retailing since the government allowed FDI in the sector.

• The government declared that 100 % FDI in single-brand retail is enabling global brands to achieve full ownership of their operations in India.

Month: Current Affairs - June, 2012