IKEA set to get Polish suppliers to 'Make in India'
In a boost to the government’s signature 'Make in India' campaign, suppliers of Swedish furniture major IKEA are likely to set up plants in the country.business Updated: Jun 16, 2015 23:45 IST
In a boost to the government’s signature 'Make in India' campaign, suppliers of Swedish furniture major IKEA are likely to set up plants in the country.
The Centre is currently in talks with IKEA executives to bring their suppliers to set up units in India, a government official said. The move is likely to spin more jobs and help the Swedish company increase sourcing and exporting from India.
“As part of India’s outreach to potential investors, the Indian embassy has formally met the top management of IKEA in Poland. The meeting explored ways for IKEA and its suppliers to Make in India. In the context of IKEA’s local content requirements in India, the Department of Industrial Policy and Promotion (DIPP) had suggested that the company’s suppliers could manufacture major product lines such as furniture and kitchen equivalent in India,” the official said.
“India has proposed to hold a seminar in Warsaw with IKEA suppliers to take these proposals forward,” the official added.
IKEA has been sourcing from India for 27 years, and currently buys about 315 million euros (Rs 2,280 crore) worth of products every year.
First Published: Jun 16, 2015 23:43 IST