Juvencio Maeztu

According to the official, the Swedish firm is planning to build a 400,000 square foot store in Hyderabad, which will also include a 1,000-seater restaurant serving Swedish cuisine, besides Indian and others.

'India can't afford to spend too much time to bring GST'

Expressing similar views, Huawei India CEO Jay Chen said if it can be solved "it'll be very useful for the industry" overall. The GST is expected to usher in a new indirect taxes regime in the country, boosting business activity. Many industry leaders have expressed disappointment over the logjam in its implementation.

IKEA buys land in Hyderabad; moves closer to open store

IKEA bought 13 acre land close to the IT hub in Hyderabad's HITEC city. In May 2013, the government cleared the proposal of the Swedish furniture major to invest Rs 10,500 crore for setting up single brand retail stores.

IKEA plans to ramp up sourcing in India, eye new categories

IKEA, which had announced plans to invest Rs 12,500 crore in India to set up 25 stores over the next decade, is working on setting up its stores in cities such as Mumbai, Delhi, Hyderabad and Bengaluru in the initial phase.

After long wait, IKEA in no rush for quick launch of stores

Juvencio Maeztu, head of IKEA's operations in India, says that no shortcuts will be taken in the process of launching its stores in India. With access to the largest number of people being the retail giant's credo, Maeztu adds that the company‘s focus is on the cities with the largest populations.

IKEA official calls on Sharma

With the CCEA likely to take up Swedish retail IKEA's Rs 10,500-crore proposal on Wednesday, India country manager of the firm Juvencio Maeztu met commerce and industry Minister Anand Sharma.