India doubles import tax on textile products, may hit China

Swedish IKEA opens 1st single-brand retail store in India

HYDERABAD, India (AP) — Band music and loud cheers greet lots of of Indian patrons as Swedish dwelling furnishings large IKEA opened its first store in the nation, 5 years after it acquired approval to speculate in India’s single-brand retail sector.

The store began enterprise Thursday in the southern Indian metropolis of Hyderabad, India’s data know-how hub, unfold over a sprawling space of 13 acres (5 hectares).

IKEA Group CEO Jesper Brodin says the opening of the primary store in India marked a milestone in the corporate’s journey, which started over three a long time in the past by means of sourcing of merchandise.

The Swedish firm’s huge array of merchandise out there at one place enjoys a bonus in India. The Indian furnishings market is usually unorganized, comprising small and medium companies.

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