lucknow swedish furniture chain ikea which proposes to invest around rs 10500 crores in india has expressed willingness to set up their first integrated unit for furniture manufacturing and selling in uttar pradesh representatives of the swedish furniture chain ikea met principal secretary infrastructure and industrial development department surya pratap singh yesterday expressing willingness to set up their first integrated unit for furniture manufacturing and selling in the state an official spokesman said here during meeting it was informed that ikea planned to establish its stores in four states and up was high on their priority it was agreed that the ikea officials would visit noida and greater noida early next month to see for themselves the infrastructure and identify appropriate site he said during interaction communication manager india of ikea patrik antony made a presentation through a short film on the business concept and strategy of ikea it was informed that at present ikea had 342 stores across the world with 154000 coworkers and turnover of around euros 275 billion a model ikea store comprises of showroom market hall and selfservice warehouse along with a restaurant an area of around 1217 acres of land was required with customised specifications and ease of accessibility through public transport appreciating the interest shown in up singh said investment in industries is welcome provided that such investment must not affect local businesses negatively along with a large consumer base and growing middle class up has around 40000 hectares of land available for industries therefore it cannot be ignored any more by entrepreneurs indian or foreign he added expressing interest for land in noida or greater noida property manager ikea jeff dolin said by 2020 we plan to double our turnover and that is possible only by tapping into the vast consumer base in india up is one of the priority states for us and we will be aiding in growth of whole furniture sector by providing low cost quality products he added allaying concerns about adverse impact on local furniture business due to ikeas proposed entry dolin said that in addition to need for local suppliers the chain creates a lot of work opportunities for local manufacturers for achieving viability our expansion in up will depend upon our experience from the first store he said pti published on oct 24 2013 at 1159 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etretail app get realtime updates save your favourite articles scan to download app uttar pradesh selling greater noida manufacturing ikea homenewsikea evinces interest in setting up shop