Mon, Jul 09, 2012 - Page 15 News List

Hitch in IKEA’s plans to conquer India

SOURCE OF CONFLICT:The Indian government welcomed the furniture company’s interest, but insisted it source materials from small businesses to protect local industry


“It will be good for IKEA to have such a large market. Even with the economy slowing, the retail market has a strong future,” Nangia said.

Technopak estimates the retail market is generating sales of US$470 billion a year — of which only US$27 billion comes from “organized retail” or chain stores.

Retail sales are seen hitting US$675 billion over the next five years — out of which US$85 billion will come from chain stores.

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