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Swedish furniture retailer IKEA will set up more manufacturing facilities in India and has plans to increase production in the country, its top official has said.
In a meeting with the Department of Industrial Policy & Promotion (DIPP) Secretary, Amitabh Kant, on Wednesday, IKEA India CEO Juvenico Maetzu shared the company’s plans for India.
The company is hoping to produce more for the Indian market, Maetzu told the media after the meeting.
When asked whether the company has plans of entering the e-commerce segment, Maetzu said, "We are in contact to increase our supply base.''
While IKEA is yet to open its stores in India, it has already announced its plan of investing Rs 12,500 crore in the country and set up 25 stores over the next ten years.
The company has also said earlier that it would double its sourcing from India to about £630 million by 2020.
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