IKEA to build stores in India

The furniture giant IKEA, finally received the approval from the Indian authorities after several years of delays. Ingvar Kamprad’s furniture empire received permission to build 25 stores – the Swedish media reported on Sunday.

So the IKEA group finally entered into the multi-billion dollar market. IKEA has been present in India, but only as an acquirer. The company has purchased mostly textiles and ceramics from small traders.

The Wall Street Journal estimates that the turnover of the Indian retail sector is estimated at  500 billion USD annually. According to some estimates, economy will increase by six percent in India in 2013.  (Politidou Mária, MTI)