IKEA's New Initiatives in India

Swedish furniture chain IKEA which has been making determined efforts to strengthen its position in India is looking to scale up its sourcing of furniture from the domestic market and has plans to procure bigger items from its global operations. It has already earmarked to invest about Rs.10,500cr in India, and has been sourcing many products including textiles, plastics, lighting and related decorative items. "We are really into many different items and are sourcing small furniture as of now but are looking for bigger furniture items. We can see great opportunities to do a lot more," said IKEA south Asia Trading Area Manager. IKEA, which inaugurated its latest designed Punja loom, used for producing durries, has sourced goods totaling $450 million from India. The new Punja loom has been developed in southern India and installed on a pilot basis at Eastern Home Industries, IKEA supplier of carpets, he added.