Ikea to invest Rs 50 bn in UP over the next few years to expand footprint

The multinational will sign MoU with UP government for opening retail stores

Swedish home furnishing brand, Ikea is looking to invest nearly Rs 50 billion in the Uttar Pradesh market over the next few years to expand its footprint. 

The company is likely to sign a Memorandum of Understanding (MoU) with the Yogi Adityanath government for opening retail stores in the important towns of the state.

On September 24, 2015, Idea had signed a MoU with the UP government during the previous Akhilesh Yadav regime for launching three stores in Lucknow, Agra and Noida, however, things did not move forward. The company had then signed similar agreements with the state governments of