India to lift restrictions on IKEA's product range - report
REUTERS - IKEA will be permitted to sell non-furniture items and run cafes in India, Commerce and Industry Minister Anand Sharma was reported as saying, removing a sticking point on the Swedish retailer's plans to enter the country.
"IKEA's proposal based on its global model, which includes cafeterias, will be approved," Sharma was quoted as saying by the Financial Express newspaper on Thursday.
The finance ministry had previously ruled that the world's largest furniture maker would not be allowed to sell items including textile products and office supplies, as it does in other markets, according to recent media reports.
The government has presented IKEA's long-mooted entry into India's retail market as a sign that foreign investors have kept faith with Asia's third-largest economy, at a time when GDP growth in the country has declined.
IKEA could not be immediately reached for comment by Reuters.
(Reporting by Henry Foy and Nandita Bose in MUMBAI; Editing by Subhranshu Sahu)
- Tweet this
- Share this
- Digg this
- Search widened as Malaysia air probe finds scant evidence of attack
- UPDATE 5-GM hires law firms it works with to probe recall response
- Malaysia air probe finds scant evidence of attack - sources
- Snowden: Proposed NSA reforms vindicate my data leaks |
- China deploys 10 satellites to help in search for Malaysia jet
MISSING MALAYSIAN PLANE
The so-far fruitless search for a missing Malaysian airliner entered its fourth day, as sources in Europe, the United States and Asia voiced growing scepticism that the flight lost 239 people on board was the target of an attack. Full Article