Home / Knowledge / News / Textiles / IKEA's FDI proposal may soon get CCEA nod
IKEA's FDI proposal may soon get CCEA nod
Apr '13
The Cabinet Committee on Economic Affairs (CCEA) is likely to consider Swedish retailer IKEA’s Rs. 105 billion foreign direct investment (FDI) proposal at its meeting on May 1, 2013.
Ahead of the CCEA’s meeting, IKEA’s India country manager Juvencio Maeztu discussed the company’s plan with Commerce and Industry Minister Anand Sharma, Zee News reported quoting PTI.
In January this year, the Foreign Investment Promotion Board (FIPB) had cleared the Swedish home furnishings retailer’s investment proposal to open single-brand retail stores across the country.
Since the FIPB can directly clear investment proposals only up to Rs. 12 billion, IKEA’s proposal needs to be cleared by the CCEA also.
IKEA’s Rs. 105 billion proposal includes setting up 10 furnishing and homeware stores as well as related infrastructure over a period of ten years in India. Subsequently, the company plans to add 15 more outlets.
IKEA’s investment would be the largest since the Government of India allowed FDI in single-brand retail last year.

Fibre2fashion News Desk - India

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search