IKEA to raise India investment above Rs200bn in five years – report

Swedish home furnishings retailer IKEA plans to raise its investment commitment in India to more than Rs200bn ($2.18bn) over the next five years. According to a Reuters report citing a senior executive, the move comes as the company looks to expand its store footprint and increase local sourcing. The company, which launched its first Indian outlet in Hyderabad in 2018, is also preparing to broaden its e-commerce presence. Online ordering will be extended to four additional cities where IKEA does not ye ...