Ikea is making significant strides in its expansion efforts in India, with a particular focus on the promising opportunities. Back in 2013, Ikea made a groundbreaking announcement to invest a substantial sum of Rs 10,500 crore in the country. What sets this commitment apart is that the company has successfully followed through on this promise, signalling its dedication to the Indian market.
Ikea explained a comprehensive strategy that has been carefully crafted to seize these opportunities. This strategy encompasses multiple facets, each contributing to Ikea’s growth and success in India.
One of the core elements of Ikea’s strategy in India is its commitment to source 30 percent of its products locally. This aligns seamlessly with the ‘Make in India’ initiative, showcasing Ikea’s determination to support local manufacturing and economic growth. By doing so, Ikea not only strengthens its ties with India but also enhances its role in the nation’s economic development.
Moreover, in the realm of gender diversity, Ikea initially set an ambitious goal of having 50 percent women in its workforce. While the company has made significant progress in this regard, currently employing an impressive 46 percent of women in its workforce, it recognises that there is still room for improvement. This acknowledgement underscores Ikea’s unwavering commitment to creating an inclusive workplace where gender diversity is celebrated and promoted.
Ikea’s strategic plans in India encompass various dimensions, from expanding its retail presence to investing significantly in local sourcing and fostering a diverse and inclusive workforce.