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Ikea inks MoU to open first store in Telangana

Thursday, 25 Sep 2014
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Ikea India yesterday signed an MoU with the Telangana government for establishing its first store in the state.


Ikea India, a subsidiary of Swedish furniture retailer Ikea AB, will set up its first store in Hyderabad.


The Swedish retailer’s outlets have a standard design and each location entails an investment of Rs 500-600 crore.


As per the statement, the Telangana government will support Ikea's investment by appointing the commissioner of industries as a single contact point to ensure a speedy, transparent process for all applications, permissions and licences.


In May 2013, the Union government cleared Ikea’s proposal to invest Rs 10,500 crore to set up single brand retail stores.

 

More Project Info:
Furniture Retail Outlets Project

 
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