Cafes to cosmetics, Ikea to offer the whole basket
Speaking at the Idea Exchange programme of the Express Group, the minister said: “Ikea’s proposal based on its global model, which includes cafeterias, will be approved. The company simply needs to clarify what its global model is because we had sought a clarification on why it was not there in their earlier proposal,” Sharma explained. The minister observed that although Ikea’s proposal was not on the agenda of the Foreign Investment Promotion Board’s (FIPB) next meeting on January 21 (earlier scheduled for January 18), it may be brought in as an additional item.
“I have moved the file and the proposal goes to FIPB now and it should go through. They (Ikea) were right that their global range should be accepted,” Sharma added. The minister’s clarification means Ikea can retail a host of single-brand retail products like cosmetics, apparel and office products, as
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