IKEA to open first India outlet at Hyderabad tomorrow

Sweden-based furniture retail company, IKEA, is all set to open doors for its first India store, in Hyderabad, on Thursday.

Speaking to ANI, Peter Betzel, CEO of IKEA India said the company would have a positive impact on the people of India.

He also said that India was a good market for IKEA to venture into and that they were "learning a lot" here.

After the launch of the Hyderabad outlet, the company aims at expanding to other parts of India, such as New Delhi, Bengaluru, and Mumbai.

The IKEA outlet in Hyderabad has been established on an area of over 4 lakh square feet and houses around 7,500 products for sale. The inauguration of the store is expected to create thousands of job opportunities for locals.

"Over 2500 jobs are being created here in Hyderabad, and if more than 20 IKEA stores open in India, there will be around 50,000 created. We have seen a dramatic improvement in businesses. The FDI has also increased in the last few years," said Department of Industrial Policy and Promotion Secretary, Ramesh Abhishek.