The investment would create over 8,000 direct and indirect job opportunities in the state, said Ikea in a statement.
There has been a change in the overall format for Ikea’s maiden journey in India. The brand, which is known for its DIY (do it yourself) format, has people sent over to assemble furniture
Also, IKEA said it is on track to invest 1.5 billion euros in India and aims to be present in many cities in the country in the coming years.
Swedish home furnishing major Ikea opened its first store in the country in Hyderabad on August 9.
The company opened its first store in Hyderabad in August this year and the Navi Mumbai will be the second store in the country.
Betzel, who attended the ground-breaking ceremony of Ikea's third India store, said the company already had an online platform and was now in the process of connecting different platforms to maximise business prospects.
Ikea is planning to invest nearly Rs 3,000 crore in the next three years to open three fulfillment centres (packing warehouses) in Mumbai, Bengaluru and Delhi
IKEA is set to open its second store in Mumbai later this year, and would hold a ground-breaking ceremony on October 11 in Bengaluru
In 2013, Ikea received government approval for a Rs 10,500 crore investment to build a supply chain infrastructure and open 25 stores across the country by 2025, one of the largest investment approvals for brick-and-mortar retailing in India.
In an embarrassment for the recently opened IKEA store, a man allegedly found the worm in the vegetable biryani served to him.
The civic body also imposed a fine of Rs 11,500 on the IKEA store for allegedly flouting norms related to dry and wet waste segregation and use of plastic covers.
Mitra, addressing the concluding session of a two-day MSME conclave, said IKEA has decided to source Rs 2,000 crore worth bamboo and natural fibre from India.
The company's 14-year long relationship with a Swedish home furnishing major should help it capitalise on the latter's aggressive growth plans for the Indian market.
Here are the first pictures of the swanky IKEA store that opened in Hyderabad on August 9
The company's first store in India comes more than five years after it received the government's nod for its Rs 10,500 crore investment in the country in single brand retail.
To satisfy the Indian penchant for ready-made furniture, IKEA has set up a 150 member task force to help customers assemble furniture and is also partnering with UrbanClap, an app that connects people with a variety of service providers, including carpenters.
IKEARetail India had earlier said it decided to move the date to August 9 from July 19 as it needs some more time to live up to its expected quality commitments towards customers and co-workers
Will the Indian consumer warm up to Swedish furniture conglomerate IKEA's flat-packed design idiom?
The company’s UK arm, however, did not take any offense of the fans creating a ruckus in its store and actually congratulated the English side
With rapid digitalisation in India, IKEA is expecting to see its e-commerce sales in the country significantly overtake the global average of around 8-10 percent, the country chief executive has said.
Deputy Country Manager of IKEA India, Patrik Antoni said the companywill be installing charging pods at its store in Hyderabad to encourage both employees and customers to switch to electric vehicles. "To meet the Indian customers' service expectations home delivery will be an important component of our offer.
IKEA also issued an official statement on the freak incident
IKEA has hired 150 employees for assembling products for its Hyderabad store
When contacted, a company spokesperson, without mentioning a date, said the outlet would be opened next month.
Currently, 60 percent of the IKEA range is based on renewable materials, while nearly 10 percent contain recycled materials