Ikea To Source Local Products

Ikea India plans to source more products locally to combat rising inflation, as the Swedish furniture group looks to connect better with the country's burgeoning middle class, a top executive said on Tuesday.

The much-awaited Ikea store opened on Thursday in India. The Swedish furniture retailer's lndia debut has been much delayed because of local sourcing norms. The company, which has flagged import duties in India faces a big challenge as it tries to keep prices low. It has to source at least 30 per cent of its raw materials locally within five years...

Ikea India plans to source more products locally to combat rising inflation, as the Swedish furniture group looks to connect better with the country's burgeoning middle class, a top executive said on Tuesday.

The much-awaited Ikea store opened on Thursday in India. The Swedish furniture retailer's lndia debut has been much delayed because of local sourcing norms. The company, which has flagged import duties in India faces a big challenge as it tries to keep prices low. It has to source at least 30 per cent of its raw materials locally within five years...