Retail in Asia

In Shops

IKEA’s wait to set up shop may get longer

To set up shop in India, Swedish furniture maker IKEA may have to wait longer than it had anticipated. Before sending the company’s proposal to the Foreign Investment Promotion Board ( FIPB) in the finance ministry, the government wants to examine it further, it is learnt.

The agenda for the next FIPB meeting, scheduled for 18 January, does not mention IKEA’s application. However, at times, additional items are listed for FIPB meetings even a day before the meeting.