Around the Net
Ikea Rebuffed By India For Now
- Chain Store Age, Monday, July 9, 2012 9:32 AM
Ikea has been rebuffed by India on a request to relax rules on buying goods locally. The rebuff is likely to delay Ikea’s entry into the Indian retail market. In June, Ikea said it would invest approximately $1.86 billion and open 25 stores in India. But the chain was seeking a 10-year window to comply with India’s rule that foreign retailers source 30% from local small and medium-sized firms.
