Ikea promises up to Rs 2,000cr investments for West Bengal

Swedish retail giant Ikea Group has pitched for multi-crore investment plans for the state of West Bengal to the Ministry of the state seeking appointment next month to discuss the plans.

Ikea has planned to open up to 2 stores in the state entailing an investment of up to Rs 2,000 crore.

In a letter to Banerjee, a senior official of the company has promised an investment of Rs 1,000 crore for each store that will open in the state.

Ikea India deputy CEO Patrik Antoni and the company's country expansion manager David McCausland and country public affairs manager have sought an appointment with Banerjee in this connection.

"This is a big news," Banerjee told reporters at the secretariat. West Bengal is one of the key markets in Ikea's plans in India and we would like to start working in your state for establishing Ikea's expansion plans. Each Ikea store in your state will be an investment of Rs 1,000 crore and generate employment of 800 directly and 1,200 jobs indirectly," Ikea's letter to Banerjee read.

"The store will be built over 4,00,000 square lakh feet of area. We see West Bengal as a market for 1-2 Ikea stores and touch points, which means an investment of more than Rs 2000 cores," it added.