It would generate around 2,000 direct and 3,000 indirect employment opportunities
Ikea, the world's largest furniture retailer, said on Thursday that it is looking for land in Ahmedabad and Surat to open stores, and has also signed a Memorandum of Understanding (MoU) with the Gujarat government for them.
Ikea, which is likely to open its first store in India in Hyderabad later this year, said in a statement that the MoU was signed between David McCausland, country property and expansion manager, Ikea India; and state industries secretary Manoj Das in the presence of Chief Minister Vijay Rupani.
"Ahmedabad and Surat are the priority cities for now. Ikea has started scouting for suitable real estate (for stores)," the Swedish home furnishings company said.
The company further said that its approximate investment in Gujarat, in the long term, would be around Rs 2,000-3,000 crore, and it would generate around 2,000 direct and 3,000 indirect employment opportunities.
Ikea, which operates more than 400 stores in 49 countries and has annual sales of more than 38 billion Euros, has already signed MoUs with Karnataka, Telangana, Maharashtra, Uttar Pradesh and Haryana for retail stores. It proposed to invest Rs 10,500 crore in India in 2012.
"Gujarat is a prioritized state for Ikea due to its policies and positive investment climate," McCausland said. "We will soon set up retail stores and other touch points in the state to bring quality and affordable home furnishings."
Das said that association will create more employment opportunities, instigate growth of manufacturing sector, and sharing of best practices. He assured full support to the furniture retailer for timely implementation of projects.
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