'Ikea entering next India growth phase'

The furniture retailer will invest in startups, renewable energy

- Suneera Tandon

Ingka Group, the owner and operator of Ikea stores, wants to invest in Indian startups and the country's energy sector via its investment arm, said Juvencio Maeztu, deputy chief executive officer of Ingka Group.

After investing ₹10,500 crore in India's retail market over the past decade, the company is now entering its next phase of expansion in the country, said Maeztu, who is also its board member and chief financial officer. The group is also preparing investment plans to open more stores in India and step up local manufacturing. Ingka Group is also stepping up investments via its Ingka Group verticals. Maeztu, who was CEO of Ikea India from 2012 to 2018 when the world's largest furniture retailer opened its first store in the country, said the company is actively engaging with the government and suppliers to increase India's furniture manufacturing capabilities. Edited excerpts:

Ikea has invested ₹10,500 crore in India. Where do you think the market is in terms of evolution within the Ikea ecosystem?