Refurnished India deal for Ikea
Swedish affordable furniture behemoth Ikea may be one step closer to the Indian market, reports the local Economic Times, after the government there eased its demands.
The Indian negotiators had asked that 30 percent of items on sale be manufactured in India and Ikea was given one year to meet that target after opening.
The business newspaper now reports that the Swedish company has "in principal" reached a deal with the Indian government which allows it seven years to do so.
Ikea has plans for 25 stores in the country, reports the AFP news agency