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In SVD daily newspaper Economy pages on Internet 7 August, 2012



Ingvar Kamprad is in the starting blocks to try to make Ikea´s first inroads in India, the world's second most populated nation. Ikea and the Indian government are close to an agreement, according to a report released on Tuesday.



In June Ikea confirmed that talks had started to open 25 stores in India, an investment of around 13 billion SEK.



Now the parties seem to have reached a breakthrough in the negotiations.



India has a requirement that 30 percent of the products in the supply chain must come from Indian companies, and want Ikea to reach that goal within a year from start of production. Ikea would rather have 10 years to reach that goal, but the parties have now "in principle" agreed to seven years, writes Indian Economic Times.



Ikea already buys products for 450 million dollars a year from India, a figure that the company intends to double in coming years.



Ikea is in China since 2005 where the company also invests heavily in new stores. Right now Ikea has stores in nine of the world's largest countries.