IKEA plans to more than double its investment in India to over Rs 21,000 crore by 2030, as it accelerates store expansion, strengthens local sourcing and scales its omnichannel business in one of its fastest-growing global markets. The company is also targeting a turnover of Rs 8,000 crore by the end of the decade.
The fresh investment of around Rs 10,500 crore will match the amount IKEA has already invested in India since entering the market, taking its cumulative investment beyond Rs 21,000 crore. According to Patrik Antoni, CEO of IKEA India, the new capital will be directed towards expanding the retailer’s physical footprint, developing mixed-use destinations, increasing local sourcing, investing in renewable energy and strengthening technology capabilities.
As part of its next phase of growth, IKEA aims to expand its retail network to around 30 customer meeting points by 2030, up from its current footprint of six locations, which includes large-format stores, city stores and planning studios. Alongside physical expansion, the company will continue strengthening its omnichannel model by launching online operations in more cities before opening brick-and-mortar stores, a strategy it has already begun implementing in several Indian markets.
The company is also investing in mixed-use developments, where IKEA stores will be integrated with shopping centres, offices and hospitality spaces. Such projects are expected to play a key role in the retailer’s expansion strategy in major metropolitan markets.
Local sourcing remains another priority for IKEA’s India strategy. The retailer plans to double its sourcing from India to around €800 million by 2030, while increasing the share of products sourced locally for the domestic market from approximately 30% to 50%.
India already serves as an important sourcing hub for IKEA’s global operations, supplying products such as textiles, mattresses, plastics and home furnishing accessories to international markets. Expanding domestic manufacturing is expected to improve supply chain efficiency while supporting the government’s “Make in India” ambitions.
The investment plan also includes expanding IKEA’s workforce, digital capabilities and renewable energy initiatives. The company said it intends to strengthen its technology infrastructure while investing in sustainable operations to support long-term growth in the Indian market.
IKEA entered India in 2018 with the opening of its first store in Hyderabad and has since expanded across cities including Mumbai, Bengaluru and Delhi-NCR through a combination of large-format stores, city stores and online channels. Despite continuing to invest heavily in expansion, the retailer has maintained that profitability remains a long-term objective as it builds scale in the country.
With its latest investment commitment, IKEA is reaffirming India as a strategic market for future growth. The planned expansion across retail, sourcing, technology and sustainability reflects the company’s broader strategy of building a stronger omnichannel presence while catering to the country’s growing demand for affordable home furnishing solutions.
FAQs
- How much is IKEA investing in India by 2030?
IKEA plans to invest over ₹21,000 crore in India by 2030, doubling its total investment in the country.
- Why is IKEA increasing its investment in India?
The investment will support store expansion, omnichannel growth, local sourcing, mixed-use developments, renewable energy projects and technology upgrades.
- What is IKEA’s turnover target for India by 2030?
IKEA is aiming to achieve a turnover of ₹8,000 crore in India by 2030.
- How many stores does IKEA plan to have in India by 2030?
The company plans to expand to around 30 customer meeting points, including large-format stores, city stores and planning studios.
- How is IKEA strengthening local sourcing in India?
IKEA plans to double sourcing from India to around €800 million by 2030 while increasing the share of locally sourced products for the Indian market.
