Ikea plans to invest Rs 6,000 crore in India by 2030. The retailer aims to meet 25 million people in Maharashtra and aim to provide over 6000 jobs. With the omnichannel approach, Ikea also plans to set up small and large stores in Bengaluru, Gurgugram and Pune.
Since Ikea has set up two stores and a few are in the process, it has also increased its sourcing from India in different segments. The retailer is working in different categories with Indian manufacturers. Currently, the local sourcing requirement is 30 per cent but Ikea aims to increase it to 50 per cent.
To be able to develop such categories, the retailer needs to have that raw material and support the production of sustainable wood. It is currently working closely with the associations and federations to push the manufacturing.