FDI in single brand retail: IKEA India, H&M welcome govt's move to ease global sourcing norms
5 years, 4 months ago

FDI in single brand retail: IKEA India, H&M welcome govt's move to ease global sourcing norms

Firstpost  

New Delhi: Leading single-brand retailers hailed the government’s move to ease local sourcing norms and allow online sales, saying it is an encouraging step to attract investments in the sector. H&M has been sourcing from India since the last 30 years for its international markets, its great to see global sourcing is now part of the 30 percent local sourcing norms. “IKEA India welcomes the relaxation of local sourcing norms for single-brand retailers. “Adding exports to the local sourcing norms may help build larger capacities, reinforcing India’s stand as a potential global manufacturing hub,” said Harsha Razdan, Partner, Consumer Markets, Life Sciences and Internet Business, KPMG in India.

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History of this topic

This is Ikea's plan for India: Doorstep delivery owing to online demand
11 months, 1 week ago

This is Ikea's plan for India: Doorstep delivery owing to online demand

Hindustan Times  

Leading furniture retailer Ikea has introduced doorstep delivery facility in 62 new markets in India, and the company expects online demand to go up in the coming years, the company's India CEO Susanne Pulverer said. At present, Ikea India gets around 25 per cent of its sales through online channels. "However, the convenience offered by online channels is expected to …

Ikea’s India connect
1 year, 4 months ago

Ikea’s India connect

The Hindu  

With the way that India has opened up to the world in the last few years, it’s no longer a milestone for an international brand to celebrate five years in the country. Speaking at the launch, Erik Jan Middelhoven, Home Furnishings and Retail Design Manager for Ikea India, said, “We wished to celebrate our legacy of sorts. These collections are …

IKEA largest store in India awaits opening in Bengaluru's Nagasandra on June 22
2 years, 6 months ago

IKEA largest store in India awaits opening in Bengaluru's Nagasandra on June 22

Hindustan Times  

IKEA, a leading Swedish home furnishings retailer, on Tuesday said it will open the doors to its largest store in India so far, at Nagasandra in Bengaluru, here on June 22. The Nagasandra Store is IKEA's fourth store in India, it said in a release, adding that the store will be an iconic landmark in the city, providing home furnishing …

Ikea set to open online deliveries in Bengaluru
3 years, 6 months ago

Ikea set to open online deliveries in Bengaluru

Live Mint  

New Delhi: Furniture retailer Ikea on Wednesday announced opening up of its online deliveries in the southern city of Bengaluru, pushing ahead its plans to reach consumers across multiple sales channels, even as the local arm of the Swedish company is a year away from opening up its first store in the city. Online sales of home furnishings and home …

IKEA announces launch of e-commerce services in Gujarat
3 years, 7 months ago

IKEA announces launch of e-commerce services in Gujarat

Live Mint  

NEW DELHI: Swedish furniture retailer Ikea on Friday announced the launch of its mobile shopping app and e-commerce services in three cities of Gujarat—Ahmedabad, Surat, and Vadodara, as the company tries to widen its reach among Indian households The shopping app will offer 8,000 home furnishing products, along with other home solutions. Mint had earlier reported that Ikea has rolled …

Export clause eased in sourcing norms for single-brand retail FDI
5 years, 4 months ago

Export clause eased in sourcing norms for single-brand retail FDI

Live Mint  

New Delhi: The government on Wednesday further relaxed FDI in single-brand retail trade for companies looking to invest and open retail stores in India. The government announced on Wednesday that all procurement made from India by the SBRT entity for that single-brand shall be counted towards local sourcing, irrespective of whether the goods procured are sold in India or exported, …

India considers easing sourcing rules that may help Apple
5 years, 4 months ago

India considers easing sourcing rules that may help Apple

Live Mint  

New Delhi: India is considering relaxing local sourcing norms for foreign companies that sell only their own brand, a move that is likely to encourage Apple Inc. to set up stores, people with knowledge of matter said. According to the proposal, export of goods from a foreign company’s factory in India will be accounted as local sourcing, the people said, …

FDI in single brand retail: Govt to soon consider proposal to relax local souring norms
5 years, 4 months ago

FDI in single brand retail: Govt to soon consider proposal to relax local souring norms

Live Mint  

New Delhi: The government will soon consider a proposal of relaxing rules for complying with the mandatory 30% local sourcing norms by foreign single brand retailers, official sources said. Relaxations are expected in a provision where foreign retail traders are presently allowed to adjust procurement of goods from India for their global operations for meeting the mandatory local sourcing requirement. …

Govt to soon consider proposal to relax local souring norms for FDI in single brand retail
5 years, 4 months ago

Govt to soon consider proposal to relax local souring norms for FDI in single brand retail

India TV News  

The government will soon consider a proposal of relaxing rules for complying with the mandatory 30 per cent local sourcing norms by foreign single brand retailers, official sources said. Relaxations are expected in a provision where foreign retail traders are presently allowed to adjust procurement of goods from India for their global operations for meeting the mandatory local sourcing requirement. …

IKEA India opens online store in Mumbai; offers more than 7,500 products
5 years, 4 months ago

IKEA India opens online store in Mumbai; offers more than 7,500 products

Firstpost  

Mumbai: Swedish home furnishings major IKEA on Monday said it has launched its online store in the city offering more than 7,500 products. It said the online store is part of its new multichannel approach to reach 100 million customers in the next three years. Today marks an important occasion in our history as we roll out our multi-channel, digital-first …

IKEA enters Mumbai market with online store
5 years, 4 months ago

IKEA enters Mumbai market with online store

Live Mint  

Swedish home furnishings retailer IKEA on Monday announced the launch of its online store in Mumbai amid plans to open retail outlets in the city. The company, which entered India with the launch of its first retail store in Hyderabad last year, said its entry into Mumbai with an online store is part of its new multichannel approach to reach …

IKEA products can now be ordered online in Mumbai. Check out opening offers
5 years, 4 months ago

IKEA products can now be ordered online in Mumbai. Check out opening offers

Live Mint  

Swedish home furnishings major IKEA on Monday said it has launched its online store in the city offering more than 7,500 products. It said the online store is part of its new multichannel approach to reach 100 million customers in the next three years. Mumbai will see a multichannel offer including smaller format stores, and a big format store in …

Local sourcing norms for FDI in single brand retail to be eased in few a weeks: Commerce Minister Piyush Goyal
5 years, 5 months ago

Local sourcing norms for FDI in single brand retail to be eased in few a weeks: Commerce Minister Piyush Goyal

Firstpost  

New Delhi: India will be easing mandatory local sourcing norms for FDI in single brand retail trading in the next few weeks, Commerce and Industry Minister Piyush Goyal said. “India has opened up opportunities for single brand retail and is easing some detrimental clauses of the policy in next few weeks which will help single brand retail come in a …

Ikea finds mattresses score over bookcases in India
5 years, 9 months ago

Ikea finds mattresses score over bookcases in India

Live Mint  

Mumbai: Ikea of Sweden AB claims its Billy Bookcase is sold somewhere in the world every five seconds. “I think we are tapping in with the right products at the right price levels, in a way thanks to the market research we learned about homes and people.” The do-it-yourself furniture retailer, which opened its first Indian store in August last …

Govt may relax mandatory 30% local sourcing norms for single-brand retailers to attract big foreign players
5 years, 11 months ago

Govt may relax mandatory 30% local sourcing norms for single-brand retailers to attract big foreign players

Firstpost  

Single-brand foreign retailers may be allowed to adjust the incremental sourcing of goods from India for global operations during the initial 10 years New Delhi: In order to attract big foreign players in the single-brand retail sector, the government is considering measures to relax the mandatory 30 percent local sourcing norms by allowing them more time to comply with the …

Govt may relax local sourcing norms for single-brand retailers to attract big investments
5 years, 11 months ago

Govt may relax local sourcing norms for single-brand retailers to attract big investments

Live Mint  

In order to attract big foreign players in the single-brand retail sector, the government is considering measures to relax the mandatory 30% local sourcing norms by allowing them more time to comply with the regulations, sources said. As per a proposal under active consideration of the government, single-brand foreign retailers may be allowed to adjust the incremental sourcing of goods …

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