Swedish furniture retailer IKEA has approached the Finance Ministry, GOI with a proposal to invest Rs 10,500 crore for setting up of 25 stores in single-brand retail in the country. The IKEA Group, which sells office and home furniture, proposes to invest 1.5 billion euros (Rs 10,500 crore) through a 100 percent subsidiary in single brand retail trading in India. IKEA would be investing 600 million euros (Rs 4,200 crore) to open 10 stores in the first stage. The remaining 900 million euros (Rs 6,300 crore) would used to open 15 more stores. Big move towards the retail expansion, which would definitely bring in new business opportunity for the signage companies dealing in in-shop signage and other related jobs around.
