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| The Textile Magazine
JUly 2012
The Sweden-based single
brand furniture retailer
IKEA’s CEO Mikael Ohls-
son recently met the Indian
Minister for Commerce,
Industry and Textiles, Mr.
Anand Sharma, in St. Pe-
tersburg to confirm that the
company will be investing
in India to the tune of Euro
600 million (approximately
Rs. 4,200 crores) in the
first stage and an additional
estimated FDI of upto Euro
900 million (approximately
Rs. 6,300 crores) total-
ling an estimated Euro 1.5
billion (approximately Rs.
10,500 crores) for initial
establishment of 25 retail
stores in a wholly-owned
subsidiary. He also con-
veyed his decision to raise
the existing sourcing for
global operation from India
significantly.
IKEA
to invest
Euro 1.5 billion
for setting up
stores in India
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