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IKEA to invest up to Rs 2,000 cr in Kolkata

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Swedish retail giant IKEA Group has written to West Bengal Chief Minister Mamata Banerjee seeking appointment next month to discuss multi-crore investment plans for the state.

IKEA to invest up to Rs 2,000 cr in Kolkata
Swedish retail giant IKEA Group has written to West Bengal Chief Minister Mamata Banerjee seeking appointment next month to discuss multi-crore investment plans for the state

According to a PTI report: IKEA plans to open up to 2 stores in the state entailing an investment of up to Rs 2,000 crore.

In a letter to Banerjee, a senior official of the company has promised an investment of Rs 1,000 crore for each store that will open in the state.

deputy CEO and the company’s country expansion manager and country public affairs manager have sought appointment with Banerjee in this connection.

“This is a big news,” Banerjee was quoted by PTI as saying.

“West Bengal is one of the key markets in IKEA’s plans in India and we would like to start working in your state for establishing IKEA’s expansion plans. Each IKEA store in your state will be an investment of Rs 1,000 crore and generating employment of 800 directly and 1,200 jobs indirectly,” IKEA’s letter to Banerjee read.

“The store will be built over 4,00,000 square lakh feet of area. We see West Bengal as a market for 1-2 IKEA stores and touch points, which means investment of more than Rs 2000 cores,” it added.