Ikea, the Swedish furniture and home furnishings giant, announced the signing with the Indian state of Haryana with a planned investment of $ 300 million. With more than a billion inhabitants and a growing middle class, the group hopes to open several stores in 2017.
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Ikea has just announced that an agreement has been signed with the state of Haryana in India. In this state near the city of New Delhi, the Swedish group will invest 300 million dollars. “On Tuesday, Ikea signed an agreement in principle with the state of Haryana in the north, providing for an investment of 20 billion rupees ($ 297 million) as well as the creation of a thousand direct jobs and 3,000 indirect jobs in the sectors including the assembly of furniture and deliveries “says Agence France Presse in a dispatch widely relayed by the press.
Quoted by a group statement, the executive director of the group for India, Juvencio Maeztu explains that ” Haryana is a priority state for Ikea because of An announcement that might seem surprising since, continues AFP, ” The Haryana was shaken in February by caste riots that have killed 28 people. The crisis had repercussions in New Delhi where the rioters managed to close the floodgates of a canal bringing to about 17 million inhabitants 60% of its drinking water, before the Indian army regains control . “
A global implementation strategy in India:
The group is developing a global strategy in India that goes beyond the state of Haryana alone. Other agreements have been signed elsewhere, and it is in Hyderabad, in the south of the country, that the first store should open during the summer of 2017. With over a billion inhabitants and a growing upper middle class exponential; Ikea knows that the Indian market is very promising.
As a reminder, it was in 2013, that the last obstacles had been raised by the Indian authorities. At the time Ikea had agreed to stock up to 30% in India, not to trade online or sell food products.