IKEA to double buying in INDIA in 3-4 years

Ikea, the inexpensive and stylish Swedish home retailer, plans to double the amount of goods it buys from India, including textiles, in the next three to four years

Ikea, the inexpensive and stylish Swedish home retailer, plans to double the amount of goods it buys from India, including textiles, in the next three to four years, to 1 billion euros, or $1.3 billion, Chief Executive, Mikael Ohlsson said at a news conference on Monday.

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Ohlsson said he had not given up on entering India’s retail market. Ikea, which has 317 stores worldwide, scrapped plans last year to open stores in India after the government refused to lift limits on foreign investment in retail. NYT