MUMBAI – Swedish retailer IKEA has applied to invest a total of $1.2 billion to open 25 stores in India, India's commerce ministry said Friday. IKEA plans to initially invest €600 million, followed by an additional €900 million to create a wholly owned subsidiary in India. The commerce ministry said...
India considers 100% FDI in Single-Brand Retail
If you are Ikea or Starbucks and you wish to open stores in India, the government currently requires you to find a a local investment partner who would own 49 percent of the India business. Companies ranging from Reebok to McDonalds have entered the India retail market under these terms...
Sourcing from India, Ikea to double purchases
Ikea, the Swedish retailer which has expanded in China in a big way, plans to double the amount of goods it buys from India, including textiles, in the next three to four years, to $1.3 billion according to its CEO Mikael Ohlsson quoted in the New York Times. Ikea said...