Swedish furniture major IKEA, which proposes to invest Rs 10,500 crore to set up stores in India, has got Department of Industrial Policy & Promotion nod and its application is now with Foreign Investment Promotion Board, Commerce & Industry Minister Anand Sharma said.
The DIPP, has scrutinised the application of IKEA that wants to set up over 25 single-brand retail stores,Sharma said adding the proposal is now with the FIPB.
Published 18 November 2012, 15:57 IST