IKEA, the Sweden-based furniture retailer, is expanding its footprint in India, by opening its first store at Hyderabad, in Telangana.
The Telangana government has assured the company that all necessary clearances would be given through a single window, in order to fast-track the process of opening the store in the city.
IKEA will soon sign an MoU with the Telangana government, in order to serve as an umbrella for broad understanding.
IKEA retail outlets have a standard design and each location in Telangana will entail an investment of $100 million (approx Rs 550-600 crore).
In May 2013, the Centre had allowed the Swedish furniture major to invest Rs 10,500 crore to set up single brand retail stores.