Swedish company IKEA will open 25 outlets in the country with an investment of Rs 10,500 crore. The Swedish MNC will invest Rs 5,000 crore in UP. The company’s focus is on four cities of Purvanchal and five of central UP.
IKEA, one of the world’s largest companies making furniture and home applications, is going to start its outlet in Noida in just a few weeks. The Swedish company, which is opening its outlets in 52 countries and providing a large number of jobs and business, is preparing to open around a dozen outlets in UP by investing Rs 5,000 crore.
The UP government has provided 4,7833 square metres of land in Noida for the IKEA outlet which will be the company’s largest outlet in India.
The Yogi Adityanath government has achieved another major success in increasing employment and trade in UP through the investments of renowned companies of the country and the world.
Along with allotting land to IKEA in Noida, the state government has sealed a plan of investment of Rs 5,000 crore by IKEA, which has opened more than 433 centres in 52 countries of the world.
Official sources said here that the investment by IKEA was expected to generate direct and indirect employment for 50,000 people .
The Swedish company plans to connect people with franchise chains even in small towns of UP. The Yogi Adityanath government had inked memorandums of understanding (MoUs) with investors at the UP Investors’ Meet in 2018.
Starting with Noida, IKEA plans to open at least three major outlets in Purvanchal and central UP. The plans for other outlets will be finalised with the opening of the Noida centre.
The company will start all its outlets by 2025, according to the plan set with the Yogi government.
IKEA’s investment, which has provided a large number of jobs and trade by opening its centres in America, Europe, North Africa, West Asia and East Asia, is believed to generate a large number of jobs.
With the help of furniture, home appliances and food sector, the Yogi government is going to prepare the people of UP as well as their own way of business in a big way.
According to experts, the company will sell its products online as well as open franchises and showrooms in different cities through which a large number of people will get the opportunity of trade and employment.
Large-scale investment by a company like IKEA can indirectly connect about 50,000 people with employment and trade.
UP government spokesperson and cabinet Minister Sidhartha Nath Singh said that the next few months were very important in terms of employment and trade.
“Major companies of the country and the world are continuously coming forward to invest in UP. The state government is working hard at every level to materialise it. The process of the Yogi government to connect every youth of the state with employment and trade is moving ahead with full speed,:” he said, adding that companies were coming to the state one after the other.
“We are realising a self-reliant UP campaign,” the minister said.