NEW DELHI: Swedish furniture major IKEA is betting big on India, and will be in the country for the next 100 years, the company’s global CEO Juvencio Maeztu told HT. Excerpts.
The next big chain of reforms in India will be labour reforms. Since IKEA will also have to employ thousands of people, what do you think is needed in labour reforms?
For IKEA, diversity is non-negotiable. We feel revision of labour laws is needed to allow women to work in shifts of their choice – late evening or early morning. It also means choice to retailers to employ part-timers in shifts of their choice, and provide customers shop experience around the clock.
Do you think it has become easy for global players to do business in India?
The government has taken several steps to facilitate ease of doing business in India. The approval of Goods and Services Tax (GST) is a very positive step. GST will not only ease product movement in India, but also bring a lot of confidence in global markets for doing business in India. We look forward towards more positive steps in labour law, land acquisition and retail policy.
What are your future investment plans?
{{/usCountry}}What are your future investment plans?
{{/usCountry}}We generally invest Rs 500700 crore per store. We have a long-term view in India, and are looking to open two stores per year with the right conditions. Our aim is to open 25 stores by 2025. We are here for the next 100 years.
Are you adding more categories and products to cater specifically to India?
Most of the range we offer in India will be the IKEA global range. However, we will add on some locally relevant unique products, including Tawa, Idly Maker, Kadai and Indian Spice box.