Ikea to invest Rs 3000 crore in Gujarat

Swedish home furnishings company Ikea has zeroed in on another state to set up its stores by signing an memorandum of understanding (MoU) with the Gujarat government.
 

The company is expected to set up stores in Gujarat as part of its pan India strategy and will invest around Rs 3000 crore in the state. The company is looking out for land to set up its operations in the state and business cities like Ahmedabad and Surat top Ikea’s priority list.
 
Ikea has set a target of 25 stores by 2025 for the Indian market with an investment of Rs 10500 crore and will be employing around 500 to 700 workers for each of its store. Currently, the company has identified states like Karnataka, Telangana, Maharashtra, Uttar Pradesh and Haryana to open retail stores.
 
“Gujarat is a prioritised state for IKEA due to its open progressive policies and positive investment climate. Ikea will soon set up its retail stores and other touch points in Gujarat to bring good quality and affordable home furnishings for the many people in Gujarat,” Ikea India Country Property & Expansion Manager David McCausland said in a statement
 
Gujarat Principal Secretary Manoj Kumar Das said, “Ikea will positively contribute to creating more employment, growth of manufacturing sector, sharing best practices, in skill development and in the overall growth of the home furnishings retail sector.”
 
Ikea recently opened its first experiential centre 'Ikea Hej (Hello in Swedish) Home' in Hyderabad where it is expected to open its first India store early next year. The company is expected to open three flagship stores in India next year in Hyderabad, Mumbai and Bengaluru.
 
 

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