BREAKING NEWS

BREAKING NEWS

IKEA to stay out of India

Now Reading:

IKEA to stay out of India

Text size Aa Aa

IKEA has confirmed it will not open any stores in India until the government there changes the law which bans foreign companies from fully owning their retail operations.

The Swedish firm – which is the world’s biggest seller of furniture – has postponed any investment. India is an enormous potential market but allows a maximum of only 51 percent foreign investment in single-brand retailers.