Swedish retail giant Ikea Group has written to West Bengal Chief Minister Mamata Banerjee seeking appointment next month to discuss multi-crore investment plans for the state.
Ikea plans to open up to 2 stores in the state entailing an investment of up to Rs 2,000 crore.
In a letter to Banerjee, a senior official of the company has promised an investment of Rs 1,000 crore for each store that will open in the state.
Ikea India deputy CEO Patrik Antoni and the company's country expansion manager David McCausland and country public affairs manager have sought appointment with Banerjee in this connection.
"This is a big news," Banerjee told reporters at the secretariat.
"West Bengal is one of the key markets in Ikea's plans in India and we would like to start working in your state for establishing Ikea's expansion plans. Each Ikea store in your state will be an investment of Rs 1,000 crore and generating employment of 800 directly and 1,200 jobs indirectly," Ikea's letter to Banerjee read.
"The store will be built over 4,00,000 square lakh feet of area. We see West Bengal as a market for 1-2 Ikea stores and touch points, which means investment of more than Rs 2000 cores," it added.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app