IKEA is planning to invest Rs 5,000 crore in 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. IKEA has opened its first store in India in August this year in Hyderabad. Retail domain is quite vibrant with the opening of new high-end stores, which eventually is an added business opportunity for the signage companies handling in-store projects.
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