IKEA eyes 1.5 bln euro India investment over 15-20 yrs

MUMBAI (Reuters) - Swedish retailer IKEA, the world's largest maker of furniture, aims to invest an estimated 1.5 billion euros in its Indian retail operations over the next 15 to 20 years, a company spokeswoman told Reuters by phone on Friday.

Earlier on Friday, an Indian trade ministry official said IKEA will invest $600 million in the Indian retail market, without giving a time frame.

The company does not currently have any stores in India. (Reporting by Nandita Bose; Editing by Tony Munroe)