Ikea to double sourcing from India by 2020

Swedish furniture retailer Ikea on Thursday announced its plans to double its sourcing from the country to about 630 million euros by 2020, heralding a new initiative ‘Make More in India’.

Presently, Ikea has 48 suppliers in India with 45,000 direct employees and about 400,000 people in its extended supply chain.

“We are looking for new suppliers who are willing to grow with us and become world class suppliers. We believe that many suppliers will come from other segments who are looking to diversify their business,” Ikea South Asia Head (Sourcing) Sandeep Sanan.

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