Swedish min talks on IKEA, Ericsson & likely entry of H&M

The FIPB will take up Swedish company IKEA's FDI proposal for investing euro 1.5 billion in its next meeting on 20th November. Sweden's industry minister Annie Lööf told CNBC-TV18's Rituparna Bhuyan that fashion retail major H&M could also follow IKEA and enter the Indian market. Lööf, however, expressed concern on non payment of dues of Ericsson by Indian government owned BSNL.

Annie Lööf, Swedish minister for enterprise, says that IKEA is very satisfied with the collaboration they have with Indian ministry and I can assure you that they work as quickly as possible. I do hope it can be the best for the future, because when IKEA settles stores in Inidia it will create many jobs for the Indian people both on the floor and in service sector.

“H&M is a world known brand and they are in several markets around the world, so I do think that they will come to India also but I haven't spoken to them and I don’t know about their strategies,” says Lööf.

On Ericsson, she said that they have an agreement with BSNL on doing this wire and haven't received a big percent of the total amount, so I have raised this question and we agreed that our officials will talk to both BSNL and Ericsson to solve the problem as soon as possible because it's important both for BSNL and for Ericsson who has invested a lot of money in this project.