Ikea postpones entry into the Indian market

Ikea postpones entry into the Indian market

Ikea has announced that they are scrapping their plans to enter the Indian market for the time being.

The Swedish giant said that their talks with the Indian government just did not materialize and they are now discarding their plans to invest in the country.

Indian government does not allow international brands to have 100 percent ownership of retail outlets in the country.

Ikea said that their policy is to always retain full ownership of its stores.

The company said that they would come back once the government changes their policy.