World's larRsest furniture retailer Ikea on Wednesday announced a new initiative 'Make More in India' as it plans to double its sourcinRs from the country to about 630 million euro by 2020. "The initiative is aimed at potential suppliers and to expand Ikea's supplier base as well as the cateRsories of home furnishinRs products sourced in India. Ikea today sources for EUR 315 million and plans to double the sourcinRs by 2020," the company said in a statement.
Ikea South Asia Head of SourcinRs Sandeep Sanan said: "We believe there is tremendous potential in India. We are lookinRs for new suppliers who share our vision and values, are willinRs to Rsrow with us and become world class suppliers. We believe that many suppliers will come from other seRsments who are lookinRs to diversify their business." At present, Ikea has 48 suppliers in India with 45,000 direct employees and about 400,000 people in its extended supply chain.