Business

IKEA won’t hit small firms, says government

  • HT Correspondent, Hindustan Times, New Delhi
  • |
  • Updated: Nov 14, 2012 11:01 IST

The government will ensure that it’s business as usual for small domestic furniture manufacturers, once Swedish furniture maker IKEA starts operating in India, said KH Muniyappa minister of micro, small and medium enterprises (MSME), on Wednesday.

“The ministry will ensure that small domestic furniture manufactures are safe and can be a part of the supply chain,” he added.

Speaking at National Small Industry Corporation’s ‘Techmart 2012’, the minister said that foreign direct investment (FDI) in retail would push India’s reform agenda and help in creating competition amongst local manufacturers, enhance quality and create infrastructure in the MSME sector.

The government has been working out a plan for land acquisition for MSME units, he said. “FDI will help in creating jobs, as the 12th Plan has set an employment creation target of 40 lakh people.”

 

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