Tuesday, May 28, 2024
Home > City News > IKEA to invest Rs 2,000 Cr

IKEA to invest Rs 2,000 Cr

swedish kempSwedish furniture giant IKEA has committed an investment to the tune of Rs 2,000 crore in Karnataka at the ‘Invest Karnataka 2015’ programme held at New Delhi where many Swedish and companies from other nationalities participated.
Minister for Large and Medium Industries in Karnataka, R V Deshpande, said that apart from IKEA, several other industry majors have committed over Rs 1,000 worth of investment in a day, when the state held ‘Invest Karnataka 2015’ programme here.
IKEA, which is yet to open its first store in India, has decided to explore different geographies around Karnataka to set up four outlets.
Additional Chief Secretary of Industries in Karnataka, K Ratna Prabha confirmed that IKEA has signed a Memorandum of Understanding with the state to open its first four establishments in Karnataka.
She said that IKEA is exploring geographies in the state, which could be Mysuru or Davangere and two other places.
IKEA has already started hiring people for its upcoming stores in India. The first store could come up in early 2017. Government of Karnataka has decided to conduct special event “Invest Karnataka 2015” to attract and promote investments in the state.
“Invest Karnataka 2015” would be organised from 23rd to 25th November, 2015 at Bengaluru Palace Grounds.

Leave a Reply

Your email address will not be published. Required fields are marked *