FIPB drops IKEA proposal from next meet agenda, seeks more info
IKEA, the world's largest furniture retailer, plans to set up 10 furnishing and homeware stores as well as allied infrastructure in over 10 years in India. Subsequently, it plans to open 15 more stores.
While India allows FDI in most of the sectors through automatic route, foreign investments in certain sectors require FIPB approval. Also, investment plans of over Rs 1,200 crore require CCEA clearance.
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