Markets

Bengaluru: Karnataka CM Bommai inaugurates largest IKEA store in India


Chief Minister Basavaraj Bommai on Wednesday said leading Swedish home furnishing retailer has decided to invest about Rs 3,000 crore in the state.

The Chief Minister inaugurated IKEA’s largest store in India at Nagasandra here, which is the furnishing retailer’s fourth outlet in the country, it said in a release.

“The company has decided to invest about Rs 3,000 crore,” Bommai said.

He had held preliminary talks in this regard with IKEA’s CEO during his recent visit to Davos in Switzerland to participate in the meet.

With a planned investment of Rs 3,000 crore in Karnataka, is expecting to attract close to five million visitors this year in Bengaluru, the company had said on Tuesday.

Stated that locals would get maximum employment opportunities in Furniture and Home Furnishing outlet here, Bommai said the company heads have assured 75 per cent of the jobs for local people.

According to the company, IKEA has employed 1,000 co-workers with 72 per cent local co-workers and plans to hire more people from the local neighbourhood.

The store also believes in empowering women and has seen women taking up jobs traditionally reserved for men, such as forklift driving, power stacking, assembly, and installation services, the company added.

Further noting that the launch of an IKEA outlet would create more opportunities for local artisans, carpenters, furniture designers and those engaged in other related vocations, the Chief Minister said, presently the company has stated that they would provide 27 per cent representation for local residents .

“I have requested them to ramp it (job opportunities) up. Each outlet provides employment opportunities for about 1,000 persons. I have also asked them to open more outlets in Bengaluru, including one in south Bengaluru, as the city has the potential for more , he said.

IKEA was keen to launch their first outlet in Bengaluru, but it faced a few hiccups. The company has opened its outlet after struggling to get suitable land to set up the outlet, he added.

Industries Minister Murugesh Nirani, Ambassador of Sweden Klas Molin, IKEA India CEO Susanne Pulverer were among others present at the inaugural.

Spread over 12.2 acres, the 4,60,000 sq. ft. IKEA Nagasandra store will feature more than 7,000 well-designed home furnishing products along with over 65 beautifully designed room sets for ideas and inspirations at home.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard,

Digital Editor

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button