Ikea to Secure India Entry

August 6, 2012  by in UnCategorized   

By Aggregated Content in Furniture Retailing on August 7, 2012 from http://www.deccanchronicle.com/channels/business/market/ikea-close-securing-india-market-entry-report-350

The government and Ikea Group are nearing a compromise over local-sourcing rules that have been delaying the Swedish retailer's entry into the country.

India has agreed 'in principle' to give Ikea seven years to meet guidelines stipulating foreign, single-brand retailers sell products manufactured from 30 percent locally made or sourced content, the Economic Times said. Originally the government had asked IKEA to comply with the local sourcing rules within one year of starting operations. 

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