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Swedish Furniture Company IKEA To Open A Dozen Outlets In UP, Invest Rs 5000 Crores
Lucknow, December 1 (TNA) For the unemployed in the state Uttar Pradesh, good days are just round the corner. This and much more, as a Swedish company IKEA, one of the world's largest companies making furniture and home applications, is going to start its outlet in Noida in just a few weeks.
The Swedish company, which is opening its outlets in 52 countries and providing a large number of jobs and business, is preparing to open around a dozen outlets in UP by investing Rs 5000 crores.
The Yogi government has provided 47833 square meters of land in Noida to make IKEA an outlet. IKEA is going to start its largest outlet in India in Noida. Starting with Noida, IKEA plans to open at least three major outlets in Purvanchal and Central UP. The plans for other outlets will be finalised with the opening of Noida Center.
The company will start all its outlets by 2025 according to the plan set with the Yogi government. IKEA's investment, which has provided a large number of jobs and trade by opening its centers in countries of America, Europe, North Africa, Middle East and East Asia, is believed to generate large number of jobs.
With the help of furniture, home appliances and food sector, the Yogi government is going to prepare the people of UP as well as their own way of business in large numbers.
In December 2018, the company signed an agreement with the Uttar Pradesh government to invest Rs 5,000 crore in Noida and other cities of the state. According to Industries Minister Satish Mahana, 47,833 square meters of land has been allotted to IKEA in Noida.
IKEA started its first center in Hyderabad at a cost of Rs 700 crore in 2016. IKEA plans to open a total of 25 centers in India by 2025 by investing Rs 10500 crore. About half of them are from UP alone.