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FIPB may take up IKEA matter on 21 Jan

FIPB has already approved Rs 4,200 crore out of a total of the Rs 10,500 crore investment proposal by IKEA
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First Published: Wed, Jan 16 2013. 09 54 PM IST
An Ikea store in Germany. IKEA plans to open single-brand retail stores in India. Photo: Marko Foerster/AFP
An Ikea store in Germany. IKEA plans to open single-brand retail stores in India. Photo: Marko Foerster/AFP
New Delhi: Swedish furniture major IKEA’s proposal for setting up cafeterias at its retail outlets could be taken up in the next meeting of Foreign Investment Promotion Board (FIPB), which is likely to be held on 21 January.
According to official sources, the FIPB meeting, scheduled to be held on 18 January is likely to be postponed to 21 January at which the IKEA issue could be taken up.
“The department of industrial policy and promotion (DIPP) has given all its input to the FIPB regarding the IKEA matter and the board could take it up at its meeting on that day,” a source said.
The proposal of Ingka Holding Overseas BV, IKEA’s parent company, was withdrawn from the agenda of the board’s meeting held on 31 December as the government had sought more information from the Swedish furniture major about its India investment plans.
FIPB has already approved Rs.4,200 crore out of a total of Rs.10,500 crore investment proposal by IKEA to open single—brand retail stores in India with only some categories of products allowed to be sold from a total of 33 that the company had applied for.
Following the part approval, the company made a representation to the industry department, which forwarded the request to FIPB seeking review of its 20 November decision.
The issue was listed on the agenda of the last meeting of FIPB held on 31 December.
Commerce and industry minister Anand Sharma has been in favour of allowing IKEA to open cafeterias at retail outlets.
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First Published: Wed, Jan 16 2013. 09 54 PM IST
More Topics: FIPB | IKEA | Anand Sharma | furniture |
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