IKEA first store in UP

Stockholm-based IKEA plans to set up its first store in the country in Greater Noida, Uttar Pradesh, and this foreign retail also intends to set up four manufacturing units here, with the first one in the  Noida - Greater Noida belt.

Striking a similar view, Surya Pratap Singh, Principal Secretary, Infrastructure and Industrial Development Department (IIDD), who in a recent statement highlighted, that this overseas player plans to set up four stores here and Uttar Pradesh is the priority.

However, no definitive investment plans have been announced by this retailer vis-a-vis its store chain in the country, highlight industry sources. 

Jeff Dolin, property manager, IKEA, in a media statement, said, “By 2020, the company plans to double its turnover and the same is possible via tapping the large consumer base of the Indian market.”