Swedish multinational furniture conglomerate, Ikea Systems B.V., has reportedly made an additional investment of nearly USD 74 million in India with the aim to expand its dominance in the multi-cultural South Asian country. Key players behind this mega investment include Netherland-based Ingka Pro Holding B.V. and Ingka Holding Overseas B.V. Both the aforementioned companies function under the umbrella of Ingka Group, which is also the parent company of Ikea Retail. Interestingly, the parent company, Ingka Group is currently charting out plans to open more number of large format shopping stores through Ingka Centers. The Ingka Center in Gurugram would be constructed with the aid of a whopping investment of USD 432 million by the second half of 2025.

Source: Mint September 25, 2022 20:17 UTC