IKEA investing Rs 5,000 crore for store in Noida

IKEA is planning to invest Rs 5,000 crore in Noida (Uttar Pradesh), where the Swedish home furnishings major is planning to set up large and small format stores. The investment would create over 8,000 direct and indirect job opportunities in the state. Ikea, which is planning to set-up a large format store in Noida, has signed a memorandum of understanding (MoU) with the Uttar Pradesh government for opening of stores in the state. The company considers UP as an “important market” and for that Ikea is “in dialogue with the present Government to facilitate our expansion plans in the State. Opening of new high-end stores like that of IKEA is an added business opportunity for the signage companies whose main tasks involve in in-store projects.