IKEA on an expansion spree in India; country's largest store to come up soon in UP's Noida

IKEA India has shown immense faith in India's potential to develop as one of the top 5 retailing furniture markets, globally. With this confidence, this pack and parcel Swedish furniture giant has invested about ₹6,000 crores to develop supply chain infrastructure and retail outlets in the country. The company already has one functional store in Hyderabad and now another one is set to come up in Navi Mumbai on December 18. IKEA's largest Indian store in Noida is also on the cards, which will bring heavy investment and employment in Uttar Pradesh. The company aims to place itself in 40 cities in India by 2030.

IKEA ammends its policies, to make it large in India

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The CEO of IKEA India has said that the company believes more strongly in India, especially after the coronavirus pandemic. The Swedish furniture retail giant has acquired global fame for specialising in flat packing and other furnishing goods and has now decided to acquire the Indian market.

To further this, the company has decided to mould its established policies and adjust to the Indian landscape. IKEA's standard stores are usually established over 40,000 square meters of lands. Owing to the ordeal of finding that kind of free-space for commercial purposes, which is not available in most districts, the company has decided to remodel its organisational setup. IKEA has decided to install smaller units, either as individual, stand-alone shops or within malls.

IKEA's 2nd store in India, to open in Navi Mumbai on December 18

IKEA has slated the launch of its second Indian store, in Navi Mumbai, on December 18. Established over an expanse of over 5 lakh square meters on the Thane-Belapur Road, this store is IKEA's second Indian venture, after the Hyderabad store which opened in August 2018.

With the aim of providing a safe shopping experience to its customers amid the pandemic, the company has decided to undertake special precautions by limiting the number of visitors in the store, authorised by a prior website registration. With the registration, the people will be allotted a day and time slot to visit the store, which will not only help the store to maintain its customer count, honouring the norms of social distancing but will also help in contact-tracing, if need be.