Home / Knowledge / News / Textiles / FDI constraints restrain Ikea from setting up shop in India
FDI constraints restrain Ikea from setting up shop in India
24
Sep '10
Ikea, a home furnishings retail store giant from Sweden intends to set up store operations in India, which is now considered amongst the fastest growing countries in the world.

It urged the Indian government to relax its strict rules to facilitate the company to set up its super-stores in the country, said Mr. Mikael Ohlsson, Chief Executive of the company.

Tough foreign investment rules in India, restrict foreign retail companies to just single-brand outlets and are only permitted in to wholesaling, in a bid to protect local, family-run stores of the country.

Ikea, is recognized for its flat pack stylish furniture and home furnishings, plans to set up more stores in the budding market of China.

It sources around €500 million worth of textiles and other products from India annually and aims to augment this value up to €one billion in next three to four years, added the Chief Executive.

As and when, the home furnishings retailer plans to set up the chain in India, it could supply at least 50 percent of items from its Indian production sources, the way it does in China and Russia.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

The new OJ 59/1 B. Courtesy: Karl Mayer

Textiles | On 7th Dec 2016

Karl Mayer unveils new LACE.EXPRESS model for apparel

Germany’s leading textile machinery firm, Karl Mayer, has launched a...

Interviews View All

Abhishek Ganguly
Puma India

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

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search