The Swedish furniture retailer IKEA intends to more than double its investments in India, bringing them to over 21,000 crore rupees by 2030. This plan aims to accelerate the expansion of its store network, strengthen local sourcing, and deepen its omnichannel presence to achieve a turnover of 8,000 crore rupees. This was announced by Patrick Antoni, IKEA's head of business in India.
The company, which initially committed to investing 10,500 crore rupees in India in 2013 when it received approval for retail operations under its own brand, has already exceeded this investment level. The CEO of IKEA in India noted that two upcoming multi-functional centers, Lykli, in Delhi-NCR are part of these efforts.
Antoni stated that the initial commitment of 10,500 crore rupees has already been allocated to India, and the company expects to double these investments in the future, reaching this figure by 2030.
The new tranche of investment will be directed towards several key areas: expanding the retailer's physical infrastructure, developing mixed projects, implementing renewable energy projects, optimizing supply chain operations, and improving the company's technological capabilities.
In addition to expansion, IKEA India aims to become profitable in the coming years. The company, which is showing 'healthy double-digit growth,' also aims to quadruple its turnover by 2030. Currently, the turnover is around 2,000 crore rupees, and the ambitious goal is to reach 8,000 crore rupees.
The expansion plans underscore IKEA's long-term confidence in the Indian market, which the company views as one of its main global growth drivers. According to Antoni, over the next three to four years, IKEA intends to double its procurement volumes in India, driven by both increased exports and growing domestic demand due to the opening of new stores.
In 2013, the government approved IKEA's proposal for Foreign Direct Investment (FDI) of 10,500 crore rupees to open 10 stores with supporting infrastructure over ten years, after which another 15 stores were planned. Currently, 100% FDI in branded retail through the automatic route is permitted.
IKEA has already invested in creating large multi-functional spaces in Noida and Gurugram, a solar farm in Rajasthan, as well as a global center of competence and supply chain operations in the country. As part of its growth strategy, the company plans to significantly expand its store network, aiming to open another 25 stores in the next three to four years to have about 30 stores by 2030.
The retailer began its operations in India by opening its first store in Hyderabad in August 2018. Currently, large stores operate in Hyderabad, Bengaluru, and Mumbai, alongside the development of mixed projects in Noida and Gurugram. Furthermore, the company is present in over 80 markets through e-commerce.
Antoni emphasized that a key task for the company is to increase accessibility and reach to a larger number of consumers across India by combining physical points of sale with digital channels. He noted that online sales currently account for about 30 percent of IKEA's revenue in India, and the company is actively exploring e-commerce development opportunities, including the potential implementation of AI-based trading.
While the opening of new stores is expected to be a factor in strong offline sales growth, online sales are projected to grow even faster. The company is also preparing for a significant increase in its workforce, expecting to double its staff size by the end of the decade. The current staff numbers are around 2,500 employees, and the plan is to hire another 2,500 colleagues, as well as invest in leadership development to support future growth.
Aditya Birla Group has announced plans to increase its investment in the state of Odisha, offering an additional ₹12,000 crore to expand its new alumina plant in Kansariguda, Rayagada district.
This proposal was made during a meeting between Chief Minister Mohan Charan Majhi and Aditya Birla Group Chairman Kumar Mangalam Birla on Saturday. The expansion will allow the plant's production capacity to increase from the initially planned one million tonnes per annum (mtpa) to three mtpa, bringing the total project cost to ₹20,000 crore.
The plant in Kansariguda is being developed by Hindalco Industries Ltd, which is the flagship metallurgical enterprise of Aditya Birla Group. It was originally approved as a new 1 mtpa alumina plant with an estimated cost of around ₹8,000 crore. With support from the state and the long-term potential of the project, the company offered an additional ₹12,000 crore to add 2 mtpa of production capacity.
This project will provide a significant amount of direct and indirect employment, as well as create new opportunities for local businesses, service providers, and related industries. The expansion is also expected to stimulate the development of downstream aluminum production in Odisha, helping the state capture a larger share of added value in the aluminum supply chain.
The Chief Minister welcomed the offer, emphasizing that Odisha's rich mineral resources should be transformed into industrial added value, advanced manufacturing, and quality employment within the state, rather than being limited to raw material extraction. Majhi stated that aluminum is central to the state's vision of adding metallic value, and that the expansion of the Kansariguda plant will strengthen Odisha's position as a leading center for metallurgy and metalworking in India.
The Chief Minister assured Birla that the state government would provide all necessary support for the timely implementation of the project, including land, infrastructure, utilities, permits, and other requirements. During the meeting, progress on current and proposed investments by Aditya Birla Group in Odisha, as well as opportunities to deepen the conglomerate's presence in various sectors, were discussed. In addition to the alumina plant, potential investments were considered in copper production, laminated copper products, printed circuit boards, advanced aluminum products, technical textiles, paints, jewelry manufacturing, renewable energy, chemicals, cement, and apparel.
According to industry experts, increasing production capacity will reduce dependence on imported alumina for certain operations while supporting the company's long-term domestic and export goals. The state is actively attracting investments in high value-added sectors such as metals, electronics, renewable energy, petrochemicals, and advanced manufacturing.
Despite the new proposal, it only reinforces the group's long-standing industrial presence in Odisha. Hindalco already has a significant industrial footprint in the state, having invested over ₹40,000 crore in bauxite mining, alumina production, primary aluminum smelting, and downstream processing. In addition to the ₹12,000 crore expansion of the Kansariguda plant, the Aditya Birla Group's flagship metallurgical enterprise plans to invest another ₹38,000 crore in the state.
Hindalco's key production assets are located in Odisha, including the Aditya Aluminium complex in Lapanga, Sambalpur, which is undergoing an expansion worth ₹21,000 crore to double smelting capacity to 0.72 mtpa. The company also operates the Utkal alumina plant in Rayagada with a capacity of 2.12 mtpa, supplied with bauxite from the Baphlimali mines via an 18-kilometer conveyor, as well as the Hirakud smelter, one of India's oldest aluminum facilities. The conglomerate is also actively expanding its presence in apparel and textiles, focusing on women's employment, and opening new production units in Rayagada, Keonjhar, and Sambalpur.
