IKEA to More Than Double Investment in India, Expand Stores and Online Sales

Swedish retailer IKEA plans to more than double its investment in India to over Rs 20,000 crore (approximately $2.2 billion) over the next five years. The company aims to expand its store network from six to 30 outlets and increase local sourcing and production, doubling output for domestic sales and exports. IKEA will launch online sales in four new cities, including Chennai and Coimbatore, before opening physical stores, marking a global first. India sales rose 6% to Rs 1,861 crore in the year ended August 2025, with plans to quadruple revenue. The expansion aligns with broader trends of global brands increasing manufacturing in India despite recent US tariff hikes, which have had limited impact on IKEA's suppliers.