IKEA Will Bring 15,000 Jobs In India

IKEA, a Swedish multinational group, selling retail furniture has opened its first store in India, five years after it got the government’s nod to invest and start its journey in the retail sector. The company has employed 950 people directly and another 1,500 indirectly at its store here, now plans to hire 15,000 in the coming years as it expands operations in India.

Jesper Brodin CEO of IKEA Group said, “The opening of the first store in India marks a milestone in the company's journey here which began over three decades ago through sourcing of products. We have a long-term commitment to India, which is an important market for us.”

The store is the first of 25 outlets planned to be set up in India by 2025. In 2013, IKEA received the nod from the government to invest Rs 10,500 crore in single-brand retail.

The company said it would increase its investments in India as it looks to accelerate expansion in the country faster than it would usually do elsewhere. The company sees big opportunities in India and will increase the investment as they continue expansion in India in the future.

Besides retail, IKEA said it will also enter e-commerce segment in India by next year, besides exploring small format stores as part of its India expansion plans.

Brodin added, "We want to be accessible. We will try our best to speed up our expansion to move quicker than normally we do in IKEA.”

After Hyderabad, Ikea's second store would be in Mumbai next year, followed by Bengaluru and Delhi-NCR. He said the company has also identified four more cities in India where it plans to set up its stores but did not disclose details.