India to lift restrictions on IKEA's product range - report

Tags: News
IKEA will be permitted to sell non-furniture items and run cafes in India, Commerce and Industry Minister Anand Sharma was reported as saying, removing a sticking point on the Swedish retailer's plans to enter the country.

"IKEA's proposal based on its global model, which includes cafeterias, will be approved," Sharma was quoted as saying by the Financial Express newspaper on Thursday.

The finance ministry had previously ruled that the world's largest furniture maker would not be allowed to sell items including textile products and office supplies, as it does in other markets, according to recent media reports.

The government has presented IKEA's long-mooted entry into India's retail market as a sign that foreign investors have kept faith with Asia's third-largest economy, at a time when GDP growth in the country has declined.

IKEA could not be immediately reached for comment by Reuters.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Sanskrit does not compare with German in the job market

    While there can be no argument that the importance of Sanskrit as an all-India language needs to be emphasised, particularly for the young generation

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

M S Swaminathan

Public good research in agriculture

Public good research in agriculture is designed to promote risk ...

Zehra Naqvi

To hell and back

Here is a book that makes you wish there were ...

Bubbles Sabharwal

When your real & reel life heroes are the same

ALL the world’s a stage and we all are merely ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture